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FX Summary: Dollar Rises to 159.20 Yen on Higher U.S. Yields and Stock Gains
The Dollar Traded Around 159.25 Yen at 3 p.m. in the Tokyo Foreign Exchange Market on April 10, Up About 0.30 Yen From Around 5 p.m. the Previous Day.
Dollar Buying Led the Market as Investors Sought Safety Amid Uncertainty Over the Middle East. Yen Selling Was Also Driven by Concerns Over Japan’s Worsening Trade Balance, With U.S. Crude Oil Futures Remaining Elevated and Japan Heavily Reliant on Energy Imports. The Dollar’s Gains Paused After the Midrate Fixing, but Gradually Rising U.S. Long-Term Yields in Off-Hours Trading Supported the Greenback. As the Nikkei Stock Average Extended Gains in the Afternoon, Risk-On Dollar Buying and Yen Selling Emerged, Lifting the Dollar to as High as 159.27 Yen Shortly After 2:20 p.m. However, the Rally Then Lost Momentum as Investors Awaited U.S. Consumer Price Index Data for March, Due Later in the Day Japan Time, and U.S.-Iran Talks Scheduled for April 11.
The Euro Traded Around $1.1690 Against the Dollar, Up About $0.0030 From Around 5 p.m. the Previous Day. Against the Yen, the Euro Stood Around 186.17 Yen, Up About 0.80 Yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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