The dollar slipped close to its lowest level of the year Thursday in Tokyo, entering 103 yen territory as market players dumped the currency in the belief that the United States tacitly approves of its weakening.
At 5 p.m., the dollar was quoted at 103 yen.75-77, down from Wednesday's 5 p.m. quotes of 104 yen.00-10 in New York and 105 yen.05-07 in Tokyo.
It moved between 103.65 yen and 104.11 yen during the day, trading most heavily at 103.97 yen.