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Foreign exchange summary: Yen temporarily weakened to 156.70 level against dollar amid volatile moves during U.S. Treasury Secretary Bessent's Japan visit

Tue May 12, 2026 3:14 pm JST Currency

The dollar-yen rate in Tokyo stood at 157.32 yen per dollar at 3:00 p.m. on Tuesday, up about 21 sen from 5:00 p.m. the previous day. The euro was trading at 185.03 yen per euro, a gain of approximately 9 sen against the Japanese currency.

U.S. Treasury Secretary Bessent met with Finance Minister Satsuki Katayama in Japan. At a subsequent press conference, Katayama indicated that Tokyo and Washington are coordinating on currency movements, while Bessent posted on social media that bilateral coordination remains strong. Initial market reaction was muted. Amid speculation that authorities would not intervene during the Secretary's visit, and a cautious stance ahead of an evening meeting between Prime Minister Sanae Takaichi and Bessent, the dollar tumbled from the 157.70 yen level to the 156.70 yen level shortly before 3:00 p.m. The pair later rebounded to the mid-157 yen level in volatile trading.

The euro was trading at 1.1763 dollars, down approximately 0.0008 dollars.

Source: MINKABU PRESS

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

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