Dollar struggles amid a pullback for Tokyo stocks

The yen rose slightly against its rival currencies, as investors bought the perceived safety of the Japanese currency following Tokyo stocks’ weakness after a six-day winning streak.

The U.S. dollar USDJPY, +0.08%  at ¥106.17, compared with ¥106.12 late Tuesday in New York. The greenback briefly touched ¥106.53 overnight, its highest since June 24, following solid U.S. housing data.

But the U.S. currency has found it difficult to rise more against the yen in Asian trade, as Tokyo stocks were weaker from the opening bell and on track to end lower. The Nikkei Stock Average NIK, -0.25%  down 0.3% at midday.

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