Dollar edges up to around 111 yen line on rising U.S. yields

©Kyodo News

The U.S. dollar edged up to around the 111 yen line Friday morning in Tokyo, as traders boosted their holdings of the dollar on rising U.S. Treasury yields.

At noon, the dollar fetched 110.97-98 yen compared with 110.72-82 yen in New York and 110.54-56 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.1801-1802 and 130.97-131.01 yen against $1.1788-1798 and 130.58-68 yen in New York and $1.1821-1823 and 130.67-71 yen in Tokyo late Thursday afternoon.

The dollar continued to draw buying in early Tokyo deals, as investors expected a wider interest-rate gap between Japan and the United States following an overnight rise in 10-year U.S. bond yields in New York to their highest level in nearly seven years.

"Traders are also waiting for the outcomes of U.S.-China trade negotiations in Washington," said a foreign exchange broker.

The euro inched up against the yen and the dollar.