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Foreign exchange summary: Dollar trades in 159.80 yen range as crude oil prices soften

Thu Jun 4, 2026 3:59 pm JST Currency

The dollar-yen exchange rate in the Tokyo foreign exchange market on Thursday was around 159.88 yen per dollar as of 3:00 p.m., up slightly over 10 sen from 5:00 p.m. on Wednesday. The euro was trading at around 185.62 yen, also up slightly over 10 sen.

The dollar-yen pair traded near 160.00 yen around 7:00 a.m. before softening to around 159.90 yen by 10:00 a.m. Bank of Japan Governor Kazuo Ueda's speech on Wednesday evening was viewed as hawkish and supportive of further rate hikes, initially triggering dollar selling and yen buying. However, as market expectations for a June rate hike by the BOJ had already been building, the pair recovered toward 160 yen once the initial wave of yen buying subsided, a trend that extended into the New York session. In the Tokyo market on Thursday, while concerns over the Middle East situation remained heightened, crude oil futures eased after the U.S. State Department announced that Israel and Lebanon had agreed to implement a ceasefire. The dollar-yen rate subsequently drifted down into the 159.80 yen range in the afternoon.

Against the dollar, the euro was trading at around 1.1611 dollars, down approximately 0.0004 dollars.

Source: MINKABU PRESS

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

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