The dollar-yen exchange rate in the New York foreign exchange market on the 6th closed at around 156.39 yen per dollar, down approximately 1.50 yen from the previous day in dollar-weak, yen-strong trading. The euro traded at around 183.73 yen per euro, down approximately 90 sen in euro-weak, yen-strong trading.

U.S. news site Axios reported on the 6th that the United States has prepared a one-page memorandum toward ending hostilities with Iran and is approaching an agreement. As concerns over the Middle East situation receded, U.S. crude oil futures continued to fall, U.S. long-term interest rates declined, and dollar-selling and yen-buying expanded. Additionally, amid continued caution over currency intervention by Japanese authorities, the dollar-yen rate softened to the 155.60 yen range in the European market. In the New York market, the rate briefly held near the 156.50 yen level after the April National Employment Report from U.S. private payroll services company ADP showed non-farm employment (excluding government sector) exceeded market expectations. However, the rebound was limited as unwinding of "risk-on dollar buying" continued after U.S. President Trump indicated in an interview with U.S. public broadcaster PBS that an agreement to end hostilities with Iran could be reached before the U.S.-China summit scheduled for the 14th to 15th.

The euro traded against the dollar at around 1.1748 dollars per euro, up approximately 0.0055 dollars in euro-strong, dollar-weak trading compared to the previous day.

Source: MINKABU PRESS

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