Yen Holds Near ¥148 in Tokyo and New York Trade
Powell’s cautious stance on rate cuts reinforced the U.S.–Japan yield gap that has guided recent yen moves.
Overview
- The yen traded at 147.92–147.95 per dollar in Tokyo on Sept. 19.
- By 5 p.m. in New York the rate stood around 147.90–148.00 per dollar.
- Powell’s comments signaling caution on near‑term cuts prompted initial yen selling and dollar buying.
- The Bank of Japan said it would sell ETFs at its policy meeting, weighing on stocks and drawing some safe‑haven yen demand.
- Traders reported intersecting buy and sell orders, and the euro traded near ¥174.11–174.15 against the yen in Tokyo.