Yen Weakens to Low ¥154s Versus Dollar in New York Session

Overview

• At 5 p.m. New York time on Nov. 3, the dollar traded at ¥154.15–¥154.25.
• The yen was about 21 sen weaker than the previous week’s close at that snapshot.
• Market reports linked the move to a climb in U.S. long-term interest rates as traders priced a slower pace of Federal Reserve cuts.
• Yen selling and dollar buying were described as dominant as participants focused on the U.S.–Japan yield differential.
• In the same session, the euro was quoted around $1.1514–$1.1524 and ¥177.53–¥177.63, according to a Kyodo News dispatch.