Overview
- At 5 p.m. in Tokyo on Oct. 17, the dollar traded at ¥149.69–¥149.72, about ¥1.54 stronger for the yen from the prior day.
- The Nikkei 225 closed at 47,582.15, down 695.59, moving back below 48,000 after a two‑day rally of roughly 1,400 points.
- Market commentary highlighted narrowing rate differentials due to lower U.S. long‑term yields tied to regional‑bank credit concerns as the main catalyst for yen buying.
- Traders also cited perceived hawkish remarks from BOJ Deputy Governor Shinichi Uchida and a turn toward risk aversion as additional supports for the currency.
- In New York on Oct. 17, the dollar showed brief strength after President Trump voiced optimism on U.S.–China relations, with the yen around ¥150.43–¥150.53 early in the session.