In the Tokyo foreign exchange market on the 1st, the dollar-yen exchange rate was trading at around 157.08 yen per dollar as of 10:00 a.m., approximately 3.05 yen lower for the dollar and higher for the yen compared to 5:00 p.m. the previous day.

In the New York foreign exchange market on April 30th, the dollar-yen exchange rate closed at around 156.59 yen per dollar, approximately 3.80 yen lower for the dollar and higher for the yen compared to the previous day. The pair plunged to 155.57 yen at one point due to what appeared to be foreign exchange intervention involving yen buying and dollar selling, and although it recovered from the lows, gains remained limited.

However, dollar-bullish and yen-bearish factors remained in place, as U.S. President Trump indicated on the 30th his intention to maintain a naval blockade on Iranian ports, and U.S. crude oil futures trended higher in off-hours trading that day. With a rebound from the sharp yen appreciation and dollar depreciation, the Tokyo market saw the pair rise to 157.30 yen at one point during the day. Meanwhile, Vice Minister of Finance for International Affairs Jun Mimura was reported to have stated that he had "no intention to comment" regarding speculation that Japanese authorities had intervened in the foreign exchange market, while reiterating his view that speculative movements were being observed.

The euro stood at around 1.1728 dollars per euro against the dollar, approximately 0.0050 dollars higher for the euro and lower for the dollar compared to 5:00 p.m. the previous day. Against the yen, it was trading at around 184.25 yen per euro, nearly 2.80 yen lower for the euro and higher for the yen.

Source: MINKABU PRESS

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