The dollar retreated against the yen as investors booked profits following four days of gains for the US currency. Andrew Wilkinson, senior analyst at Interactive Brokers in Greenwich, Connecticut said: "We’ve had such a strong ascent lately and today’s the day people have decided to take some profits. Signs of strong global growth and higher U.S. yields will help the dollar resume its rise against the yen in the days ahead, with a move above 100 yen likely this quarter."
inoru Shioiri, chief manager of foreign exchange trading at Mitsubishi UFJ Securities said: "Technically dollar/yen is clearly in a bullish trend. But for many players the dollar looks too high to bet more on the currency."
The dollar last changed hands at 94.34 yen, down 0.2 percent. The euro fell 0.5 percent to 127.14 yen but was down 0.2 percent against the dollar at $1.3478. Pound rose 0.5 percent to $1.5284.