Dollar trades in upper ¥123 range in early Tokyo trading

The U.S. dollar traded in the upper 123 yen range early Thursday morning in Tokyo, sharply lower from its levels the previous day following a Federal Reserve policy meeting overnight that suggested the U.S. central bank may not be ready yet for an interest rate hike next month.

At 9 a.m., the dollar was quoted at 123.93-94 yen compared with 123.75-85 yen in New York and 124.25-26 yen in Tokyo at 5 p.m. Wednesday.

The euro fetched 1.1118-1119 dollars and 137.79-80 yen against 1.1115-1125 dollars and 137.72-82 yen in New York and 1.1057-1059 dollars and 137.39-43 yen in Tokyo late Wednesday afternoon.