The dollar inched up against the yen in range-bound Asia trade Wednesday, with investors largely sitting on the sidelines with no fresh trading cues.
The currency USDJPY, +0.04% briefly hit as high as ¥120.01 in keeping with stock market strength in the mid-afternoon, crossing the ¥120-mark for the first time since Oct. 13. But the U.S. currency weakened slightly to ¥119.97. That compares with ¥119.84 late Tuesday in New York.
Amid a lack of fresh trading cues, the dollar advanced against the yen with a solid gain in the benchmark Nikkei Stock Average supporting the trading pair. The Nikkei NIK, +1.91% was up 1.8% at midday.
