The dollar-yen exchange rate in the New York foreign exchange market on April 30 closed at around 156.59 yen per dollar, down approximately 3.80 yen from the previous day in dollar-weak, yen-strong trading. The euro closed at around 183.70 yen per euro, down approximately 3.50 yen in euro-weak, yen-strong trading.

During Japan time evening hours, Finance Minister Satsuki Katayama and Vice Finance Minister Atsushi Mimura strongly cautioned the foreign exchange market, stating that "we have been referring to decisive measures all along, and the timing to take the decisive measures we have been mentioning is finally approaching." Following this, what appeared to be currency intervention by Japanese monetary authorities through yen-buying and dollar-selling occurred intermittently, with the dollar-yen rate touching 155.57 yen at one point. In the New York market, the pair resisted further declines on the back of the previous week's U.S. initial jobless claims coming in lower than market expectations and the year-on-year increase in the U.S. Personal Consumption Expenditures (PCE) Price Index for March reaching its highest level in approximately three years. However, the dollar's recovery remained sluggish as U.S. long-term interest rates declined due to position adjustments and other factors, weighing on the dollar.

The euro traded at around 1.1731 dollars per euro against the dollar, up approximately 0.0055 dollars from the previous day in euro-strong, dollar-weak trading.

Source: MINKABU PRESS

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