Yen Falls to High-¥159s, Hits Two-Month Low
Traders cast the move as renewed dollar strength likely to raise import costs and shift market sentiment
Overview
- The yen weakened intraday to the high-¥159s against the U.S. dollar and settled in the late-¥158 range by Tokyo close.
- Tokyo market quotes at 5:00 p.m. showed the dollar trading at ¥158.87–89, about 86 sen weaker than the previous day.
- Japanese reports described the change as yen weakness and dollar strength, using the phrase 円安ドル高 to capture the shift.
- Related coverage showed matching late-¥158 quotations in New York and Tokyo earlier the day, indicating the move carried across trading sessions.
- A weaker yen tends to raise the cost of imports for households and firms while improving exporters' overseas earnings when converted to yen, and the day's move may influence Tokyo market sentiment and company results.