Overview
- The dollar climbed to the upper ¥156 per dollar in late New York trading on Dec. 9 before holding in the mid-¥156 range in early Tokyo on Dec. 10.
- Rising U.S. long‑term yields widened the Japan–U.S. rate gap and spurred yen selling and dollar buying, according to market participants.
- U.S. stocks softened ahead of the meeting, with the Dow falling 215 points on Dec. 8 and another 179 points on Dec. 9 as investors adjusted positions.
- Tokyo equities turned volatile on Dec. 10, with an early surge above 51,000 on the Nikkei reversing as profit‑taking in major semiconductor names dragged the index lower by midday.
- Investors looked to the FOMC outcome due Dec. 10 and to guidance from Chair Jerome Powell and BOJ Governor Kazuo Ueda for signals on the path of rate cuts.