The dollar edged down against the yen on Friday as investors stayed on the sidelines awaiting the outcome of a two-day Group of Eight finance ministers' meeting.
The dollar was quoted at 107.76 yen mid-afternoon in Tokyo, down from 107.89 yen in New York late Thursday.
"The dollar was moving in a narrow range as investors were awaiting the outcome of the G8 meeting," said Mitsuru Sahara, senior currency manager at Bank of Tokyo-Mitsubishi UFJ Ltd.
"Investors were carefully monitoring comments from the ministers," he said.
The two-day meeting, which began Friday in Osaka will address pressing global issues including towering oil and food prices, as well as global warming, according to Japanese Finance Minister Fukushiro Nukaga, host of the meeting.
Sahara said the Bank of Japan's unanimous decision to keep its key interest rate unchanged at 0.5 percent had little impact on the currency market as the move was widely expected. "There were no surprises in the decision," he said.
The euro stood at US$1.5446 mid-afternoon in Tokyo, compared with US$1.5438 in New York late Thursday.
In other Asian currencies, the dollar was little changed at 33.13 to the Thai baht and at 1.3776 Singapore dollars, down from S$1.3782.
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