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U.S. forex market summary: dollar rises to 160 yen level on strong U.S. economic data

Thu Jun 4, 2026 7:55 am JST Currency

The dollar closed at around 160.07 yen in New York on Wednesday, up approximately 15 sen from the previous session, amid broad dollar strength and yen weakness. The euro traded at around 185.62 yen, down nearly 40 sen, as the common currency weakened against the Japanese currency.

The greenback temporarily slid to 159.37 yen on Wednesday afternoon after Bank of Japan Governor Kazuo Ueda stated in a speech that "there is a need to thoroughly discuss whether to raise interest rates," but the currency pair quickly recovered. Heightened geopolitical uncertainty in the Middle East, including an Iranian attack on civilian facilities in Kuwait, triggered safe-haven dollar buying. Surging U.S. crude oil futures further pressured the yen on concerns over Japan's deteriorating trade balance. Additionally, the dollar drew support from robust economic data, including the May ADP National Employment Report and the Institute for Supply Management (ISM) May services PMI, driving the dollar-yen rate to an intraday high of 160.09 yen during the New York session.

Against the greenback, the euro traded at around 1.1597 dollars, shedding approximately 0.0035 dollars from the previous session as the single currency weakened.

Source: MINKABU PRESS

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

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