FX Summary: Dollar buying eases, temporarily weakening to upper 159.40 yen range

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Fri Apr 3, 2026 10:19 am JST Currency

In the Tokyo foreign exchange market on the 3rd, the dollar-yen exchange rate was trading at around \159.60 per dollar as of 10:00 a.m., approximately 4 sen higher for the dollar and weaker for the yen compared to 5:00 p.m. the previous day.

In the New York foreign exchange market on the 2nd, the dollar-yen exchange rate closed at around \159.60 per dollar, nearly 80 sen higher for the dollar and weaker for the yen compared to the previous day. Following President Trump's speech, expectations for an end to Middle Eastern conflicts receded, pushing the pair up to \159.74 at one point amid "safe-haven dollar buying."

However, after Iran's state-run news agency IRNA reported that "Iran is formulating a draft agreement with Oman to monitor navigation through the Strait of Hormuz," speculation that the de facto blockade of the Strait of Hormuz would be prolonged eased somewhat. In the Tokyo market on this day, dollar buying has paused. Additionally, with the 3rd being Good Friday and many overseas market participants entering the Easter holiday, there were moves to unwind the "safe-haven dollar buying" positions accumulated ahead of the extended break, with the pair weakening to \159.43 shortly after 9:10 a.m.

The euro stood at around $1.1538 per euro against the dollar, approximately $0.0006 higher for the euro and weaker for the dollar compared to 5:00 p.m. the previous day. Against the yen, the euro was trading at around \184.12, approximately 10 sen higher for the euro and weaker for the yen.

Source: MINKABU PRESS