Tokyo forex summary: Dollar trades around 160.50 yen, upside remains capped
The dollar traded around 160.54 yen at 3 p.m. in Tokyo on the 11th, up just over 0.10 yen from 5 p.m. the previous day. The euro stood at around 185.38 yen, up just under 0.10 yen from the same reference point.
The dollar hovered around 160.50 yen at 9 a.m. before briefly softening to around 160.44 yen just after 10:20 a.m., then recovering to the 160.50 yen range. The moves followed U.S. President Trump's declaration on the 10th that he would strike Iran "very hard" after a U.S. military helicopter was shot down. WTI crude oil futures briefly surged above 93 dollars per barrel during off-hours trading. However, market participants remained wary of potential currency intervention by Japanese authorities should the dollar approach the upper end of the 160 yen range, capping its upside and keeping the pair stuck in a narrow range around 160.50 yen.
Against the dollar, the euro traded around 1.1547 dollars, down about 0.0006 dollars from the previous reference point.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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