Dollar holds onto ¥120 briefly before backing off

The dollar briefly pushed above the key level of ¥120 in Asia on Thursday, though it backed off as investors quickly cashed in on that momentum.

The dollar USDJPY, +0.09%  was at ¥119.77, compared with ¥119.92 late Wednesday in New York.

The New Zealand dollar NZDUSD, -1.19%  tumbled to $0.7568 from $0.7625, and against the yen NZDJPY, -1.10% as low as ¥92.65 from around ¥91.50.

The euro EURUSD, +0.01% meanwhile, was weaker in Asia trade, extending overnight weakness that followed a Swiss National Bank decision to expand the number of groups subject to negative rates on deposits at the SNB.

During Asia trade, the euro was at $1.0705 from $1.0726, while the common currency EURJPY, +0.11%  was at ¥128.19 from ¥128.58.

The WSJ Dollar Index BUXX, +0.06% a measure of the dollar against a basket of major currencies, was up 0.06% at 87.32.

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