The dollar-yen exchange rate in the New York foreign exchange market on the 10th closed at around \159.27 per dollar, approximately 30 sen higher in dollar terms and lower in yen terms compared to the previous day. The euro traded at around \186.70 per euro, over 70 sen higher in euro terms and lower in yen terms.

The dollar-yen pair fell to 158.94 yen after the U.S. Labor Department's March Consumer Price Index (CPI) showed the core index, excluding food and energy, rose 0.2% month-on-month, below market expectations. However, the dollar found support after the University of Michigan's April consumer survey (preliminary) showed one-year inflation expectations, indicating short-term price outlook, rose to 4.8%, up 1.0 percentage point from the previous month. The pair subsequently surged to 159.35 yen at one point, driven by "flight-to-dollar" sentiment after the New York Times reported, based on a phone interview on the 10th, that "President Trump said he is replenishing ammunition on U.S. warships in preparation for resuming attacks if talks with Iran in Pakistan break down." Nevertheless, the rally later subsided as market participants awaited clarity on the peace talks between the U.S. and Iran scheduled for the 11th local time in Pakistan. Meanwhile, the euro remained firm, benefiting from expectations of progress in U.S.-Iran negotiations, as the currency tends to be bought during periods of risk appetite.

The euro traded at around $1.1723 per euro against the dollar, approximately $0.0025 higher in euro terms and lower in dollar terms compared to the previous day.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.