Foreign exchange summary: Dollar-yen struggles to hold gains, briefly falling to 159.80 yen range on intervention concerns

The U.S. dollar traded around 159.91 yen as of 10:00 a.m. in Tokyo on Thursday, up approximately 20 sen from 5:00 p.m. on Wednesday.

Overnight in New York, the dollar closed around 160.07 yen, up approximately 15 sen from the previous session. The pair touched an intraday high of 160.09 yen, driven by geopolitical uncertainties in the Middle East and robust U.S. economic indicators.

In Tokyo on Thursday, the dollar dipped to 159.83 yen shortly after 7:50 a.m. on concerns over potential currency intervention by Japanese authorities. The greenback also faced pressure from the unwinding of risk-off dollar buying after U.S. President Trump suggested potential progress in negotiations with Iran as early as this weekend, and the U.S. State Department announced a ceasefire agreement between Israel and Lebanon. While the pair staged a partial recovery later, further upside was capped as the safe-haven yen drew bids amid a sharp decline in the Nikkei Stock Average.

The euro traded around 1.1606 dollars, down approximately 0.0010 dollars from 5:00 p.m. on Wednesday. Against the yen, the single currency fetched around 185.60 yen, up approximately 10 sen.

Source: MINKABU PRESS

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