The dollar-yen exchange rate in the Tokyo foreign exchange market on the 24th was trading around 159.79 yen to the dollar as of 10:00 a.m., about 20 sen higher in dollar terms compared to 5:00 p.m. the previous day.

In the New York foreign exchange market on the 23rd, the dollar-yen rate finished trading at around 159.71 yen to the dollar, slightly over 20 sen higher in dollar terms compared to the previous day. Following reports that "Iranian Parliament Speaker Ghalibaf was removed from the negotiating team due to intervention by the Revolutionary Guards," the rate temporarily rose to 159.84 yen on the view that talks between the United States and Iran would stall.

However, dollar-buying and yen-selling movements subsided in the Tokyo market on this day. Finance Minister Satsuki Katayama stated at a press conference after a cabinet meeting on the 24th regarding recent foreign exchange movements that "we can take decisive and strong measures against speculative movements," reaffirming her stance of not ruling out currency intervention, which appears to have had an impact. Additionally, with a mood of waiting to see whether a second round of peace talks between the United States and Iran will materialize, the dollar-yen rate has generally been moving around the 159.70 yen level. The Consumer Price Index (CPI) for March released by the Ministry of Internal Affairs and Communications in the morning showed that the core index excluding fresh food rose 1.8% from the same month a year earlier, but market reaction has been limited so far.

The euro was trading at around 1.1685 dollars to the euro against the dollar, down about 0.0020 dollars compared to 5:00 p.m. the previous day. Against the yen, it was trading at around 186.72 yen to the euro, down about 6 sen in euro terms.

Source: MINKABU PRESS

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