U.S. forex market summary: Dollar softens to near 159.60 yen on comments from U.S. Treasury Secretary
The dollar traded around 159.74 yen in New York on Aug. 31, down roughly 0.35 yen from late last week. The euro stood around 185.59 yen, up about 0.10 yen.
A wait-and-see stance prevailed as market participants closely watched remarks from key officials at the G20 Finance Ministers and Central Bank Governors meeting from Aug. 31 through Sept. 1, alongside key U.S. economic indicators due this week - including the U.S. jobs report on Sept. 4. Higher U.S. crude oil futures and U.S. long-term yields, driven by Middle East uncertainty, lent dollar support, while declines in major U.S. stock indices like the Dow Jones Industrial Average weighed on sentiment. Dollar-yen softened to near 159.60 yen after U.S. Treasury Secretary Bessent said in a CNBC interview that he was "confident that the Japanese government and the Bank of Japan will take steps to strengthen the yen."
Against the dollar, the euro traded around 1.1618 dollars, up over 0.0030 dollars from late last week.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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