The dollar was slightly higher against the yen Friday, with investors avoiding taking lopsided positions ahead of the weekend and next week’s Federal Open Market Committee.

The dollar was at ¥121.47, compared with ¥121.26 late Thursday in New York.

The euro, tumbled to fresh 12-year low during Asian time Thursday. It last traded at $1.0584 from $1.0634.

During Asian trade, the dollar maintained its firm tone against the yen tracking overnight performance in New York, where a stock market rally helped recoup the greenback’s earlier losses caused by downbeat U.S. retail sales data. The Dow Jones Industrial Average advanced 1.5% Thursday.

The dollar didn’t show much reaction to comments by Japanese Finance Minister Taro Aso that the weaker yen remains supportive for Japan’s economy.

Elsewhere, the euro was down to ¥128.85 from ¥128.91, while the Aussie fell to ¥93.24 from ¥93.48.

The WSJ Dollar Index, a measure of the dollar against a basket of major currencies, was up 0.29% at 88.87.

Source: MarketWatch