Yen Slips to Low ¥154 Per Dollar in Tokyo Trading

Overview

• At 5 p.m. JST, the dollar traded at ¥154.30–32, leaving the yen 87 sen weaker than the previous day.
• The euro stood at ¥178.44–48, reflecting a 19-sen weakening of the yen against the common currency.
• The Bank of Japan a day earlier postponed a policy rate increase decided at its monetary policy meeting.
• Expectations for near-term Federal Reserve rate cuts eased, and U.S. long-term yields rose, supporting the dollar.
• Market participants said the next BOJ rate hike still appears some distance away, reinforcing yen selling and dollar buying.