The dollar eased below ¥109.20 in thin Tokyo trading Monday.

At 5 p.m., the dollar stood at ¥109.15-15, down from ¥109.50-51 at the same time Friday. The euro was at $1.1194-1194, up from $1.1129-1130, and at ¥122.22-23, up from ¥121.99-99.

After fluctuating narrowly around ¥109.40 in the early morning, the dollar fell to around ¥109.10 by noon on selling to square positions ahead of the New Year’s holidays in Japan.

With few participants, the greenback turned static in the afternoon.

Unlike the year before, a flash crash did not happen thanks to progress in position-squaring, an official at a foreign exchange margin trading service firm said.