The dollar-yen exchange rate in the Tokyo foreign exchange market on the 7th was trading at around 156.32 yen to the dollar as of 10:00 a.m., down about 30 sen from the 5:00 p.m. level on the 1st, marking a weaker dollar and stronger yen.

The dollar-yen exchange rate in the New York foreign exchange market on the 6th closed at around 156.39 yen to the dollar, down about 1.50 yen from the previous day, marking a weaker dollar and stronger yen. While the pair rebounded to the 156.50 yen level at one point, the recovery was limited due to unwinding of "safe-haven dollar buying" amid expectations that hostilities between the U.S. and Iran are nearing an end.

In the Tokyo market on this day, the dollar-yen pair saw dominant dollar selling and yen buying, partly due to continued vigilance over possible foreign exchange intervention by Japanese monetary authorities. The pair temporarily reached 156.53 yen on the back of firmer U.S. crude oil futures in after-hours trading, but softened to 156.22 yen after reports emerged that Vice Finance Minister for International Affairs Atsushi Mimura stated that "the International Monetary Fund (IMF) rules on foreign exchange intervention do not limit the number of times."

The euro stood at around 1.1749 dollars per euro against the dollar, up about 0.0015 dollars from the 5:00 p.m. level on the 1st, marking a stronger euro and weaker dollar. Against the yen, it was trading at around 183.65 yen per euro, down slightly over 10 sen, marking a weaker euro and stronger yen.

Source: MINKABU PRESS

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