Yen Weakens to Around ¥153 per Dollar as Tariff Fears Recede

Reduced expectations of new U.S. tariffs on China prompted dollar buying that pressured the yen.

Overview

Tokyo trading opened on Oct. 27 with the yen at ¥152.87–¥152.91 per dollar, slightly weaker than late last week.
By late afternoon in Tokyo, the currency slipped further to ¥153.02–¥153.04 per dollar on broad dollar demand.
In New York trading the same day, the yen hovered around ¥152.75–¥152.85 per dollar as of 8:40 a.m. local time.
The yen also fell against other majors, briefly touching the low ¥178s per euro, its weakest level versus the euro since 1999, according to major financial institutions.
Some market participants flagged caution over possible comments from the visiting U.S. president that could seek to curb yen weakness.