The dollar-yen exchange rate in the Tokyo foreign exchange market on the 30th was trading at around 160.29 yen to the dollar as of 10:00 a.m., showing a dollar appreciation and yen depreciation of nearly 80 sen compared to the 5:00 p.m. level on the 28th.

The dollar-yen exchange rate in the New York foreign exchange market on the 29th closed at around 160.41 yen to the dollar, approximately 80 sen higher than the previous day. The dollar rose to as high as 160.47 yen at one point, as the results of the Federal Open Market Committee (FOMC) were perceived as a "hawkish hold."

However, as the dollar-yen pair reached its highest level against the yen since July 2024, the Tokyo market on this day showed cautious sentiment toward further upside pursuit due to concerns over potential foreign exchange intervention. At a post-cabinet meeting press conference on the 28th, Finance Minister Satsuki Katayama stated regarding the approach to foreign exchange response during the Golden Week holiday period, "We are ready to respond 24 hours a day," reiterating that foreign exchange intervention could be one of the options. Additionally, with the rise in U.S. long-term interest rates and U.S. crude oil futures pausing in after-hours trading, the pair weakened to 160.08 yen at around 9:10 a.m.

The euro was trading at around 1.1679 dollars to the euro against the dollar, approximately 0.0020 dollars lower compared to the 5:00 p.m. level on the 28th. Against the yen, the euro was trading at around 187.23 yen to the euro, showing a euro appreciation and yen depreciation of approximately 60 sen.

Source: MINKABU PRESS

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