Yen Weakens to High ¥153 Range in Tokyo on Dollar Strength
Reduced Fed cut expectations kept the U.S.–Japan rate gap wide.
Overview
- The dollar traded around ¥153.86–¥153.88 in late-afternoon Tokyo dealings on Nov. 6.
- The euro stood near ¥177.07–¥177.11, about ¥0.69 stronger against the yen versus the previous day.
- Stronger U.S. employment indicators diminished expectations for near-term Federal Reserve rate cuts, supporting the dollar.
- Market participants cited the persistent U.S.–Japan interest-rate differential as a driver for selling yen and buying dollars.
- A rise in the Nikkei 225 encouraged risk-taking and added to pressure on the yen, while traders noted elevated volatility and an unclear near-term outlook.