Brad Bechtel, managing director at foreign exchange brokerage Faros Trading in Stamford, said his firm saw less liquidity than normal for a Friday morning.
"We have a big asset manager account in Boston and they are generally big players in the FX space. But today they're unable to do their jobs. That is keeping liquidity down," he said. "A lot of folks in Boston are out of the market and anyone not in Boston is stuck watching the TV trying to find out what's going on there."
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School holidays in Boston could also be contributing to lower activity from Boston-based accounts, asset managers said.
The dollar was last up 1.4 percent to 99.50 yen, having hit a one-week peak of 99.68 yen, according to Reuters data.
"Many might have expected the G-20 to bring up criticism of the BOJ for running monetary stimulus. This has not been the case. Market participants see that as a green light for the yen to go lower," said Tatjana Michel, currency strategist at Charles Schwab in San Francisco.
"We definitely see the yen lower in the next couple of months due to this massive stimulus. I see the dollar going to 110 yen by the end of the year," she said.
The euro last traded up 1.4 percent to 129.90 yen. It reached a session peak of 130.24 yen and looked on course to test last week's three-year high of 131.11 yen.
The euro gave up most of its early gains against the dollar, trading just above break-even on the day at $1.3057, having risen to a session high of $1.3128 after European Central Bank board member Jens Weidmann said interest rates in Europe are appropriate.
But if data shows change, the ECB needs to reassess rates, he said.
The euro lost 1.1 percent on Wednesday, its worst daily performance since June, after Weidmann was quoted by the Wall Street Journal saying the bank could ease further if economic data warrants it.
"Weidmann clarified that comments in the WSJ were not meant to signal a trend change on ECB rates," said analysts at Action Economics.
Earlier, the euro also got a brief boost after German Finance Minister Wolfgang Schaeuble said the ECB should try to limit the amount of liquidity in the euro zone, although he also acknowledged the "precarious" economic plight of some countries in the region.