The dollar-yen exchange rate in the Tokyo foreign exchange market on the 30th stood at around 160.65 yen per dollar as of 3:00 p.m., rising more than 1.10 yen compared to 5:00 p.m. on the 28th. The euro traded at around 187.33 yen per euro, up about 70 sen against the yen.

The dollar-yen pair was trading around 160.20 yen at approximately 8:30 a.m., then softened to the 160.00 yen range shortly after 9:00 a.m. However, dollar buying and yen selling intensified thereafter, breaking through the 160.50 yen line after 1:20 p.m. and rising to the 160.60 yen range by 3:00 p.m., reaching the highest dollar-yen level since July 2024. U.S. crude oil futures saw the June contract for WTI (West Texas Intermediate) temporarily rise to the 110 dollar per barrel range on the afternoon of the 30th, Japan time. Reports indicated that the Trump administration plans to continue a maritime blockade until Iran complies with U.S. nuclear development programs, raising concerns about a prolonged U.S.-Iran confrontation. This triggered increased "risk-off dollar buying." Additionally, while the Federal Open Market Committee (FOMC) on the 29th kept policy rates unchanged, three regional Federal Reserve Bank presidents opposed leaving language in the statement indicating a dovish stance. This led to growing expectations that rates will remain on hold for the rest of the year, with prospects for U.S. rate cuts receding, which also contributed to dollar buying.

The euro traded at around 1.1659 dollars per euro against the dollar, down about 0.0040 dollars.

Source: MINKABU PRESS

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