Overview

• The dollar rose to as much as ¥152.28 in early Sydney dealings before stabilizing near ¥152.
• By 5 p.m. in Singapore, the exchange rate was around ¥152.34–¥152.40 after steady yen selling.
• Market participants described the move as a pullback from last week’s rapid yen gains, leaving the dollar about one yen stronger than in Oct. 10 New York trading.
• A Sydney-based Japanese bank source pointed to buybacks following what was seen as an overreaction to President Trump’s warning of 100% additional tariffs on Chinese rare-earth exports.
• SMBC economist Ryota Abe said yen selling emerged in London but showed weak momentum, with Japan’s political scene highlighted as a potential catalyst for the next direction.