The dollar-yen exchange rate in the New York foreign exchange market on the 23rd closed at around 159.71 yen per dollar, up more than 20 sen from the previous day with the dollar higher and yen weaker. The euro stood at around 186.59 yen per euro, down about 10 sen from the previous day with the euro lower and yen higher.

Following Finance Minister Satsuki Katayama's remarks at a Bloomberg event that "Japan has a free hand in conducting currency intervention" and that "Japanese and U.S. authorities are in close communication on currency issues," yen-buying and dollar-selling took the lead on heightened intervention concerns. An increase in U.S. initial jobless claims from the previous week also weighed on the dollar, with the dollar-yen rate softening to 159.32 yen at one point. However, the April U.S. composite Purchasing Managers' Index (PMI) preliminary reading exceeding market expectations provided underlying support for the dollar. Reports that "Israeli Defense Minister Yoav Katz revealed that preparations to resume war with Iran have been completed and are awaiting U.S. approval" and that "Iranian Parliament Speaker Ghalibaf was removed from the negotiating team following intervention by the Revolutionary Guards" triggered "risk-off dollar buying," pushing the rate up to 159.84 yen at one point.

The euro stood at around 1.1683 dollars per euro against the dollar, down more than 0.0020 dollars from the previous day with the euro lower and dollar higher.

Source: MINKABU PRESS

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