TOKYO, Aug. 7 (Xinhua) -- The U.S. dollar was pegged in the lower 106 yen zone in Tokyo on Wednesday, as trade concerns continued to weigh on market players who also had to contend with a rate cut by New Zealand's central bank that was larger than median forecasts.
The dollar was quoted at 106.29-30 yen at 5 p.m. local time compared with 106.42-52 yen in New York and 106.37-38 yen at 5 p.m. on Tuesday in Tokyo.
It tracked between 105.94 yen and 106.45 yen during the day, trading most often at the 106.15 yen mark.
The euro, meanwhile, fetched 1.1189-1190 dollars and 118.93-97 yen against 1.1197-1207 dollars and 119.26-36 yen in New York and 1.1214-1215 dollars and 119.29-33 yen in late Tuesday afternoon trade in Tokyo.
The dollar briefly dipped below the 106 yen line, following New Zealand's central bank on Wednesday cutting its rate by more than expected to the surprise of markets, with some players moving into the safe haven yen amid concerns over the outlook of the global economy.