In Tokyo trading on the afternoon of the 4th, the dollar-yen rate held around ¥158 after a sharp fall. As of 3 p.m., the rate was ¥158.04–04, with trading driven by reports that the Democratic Party was ahead.
In Tokyo foreign exchange trading on the afternoon of the 4th, the dollar-yen rate was sold down temporarily to the first half of the ¥157 range after reports that the Democratic Party was ahead in the US midterm elections, before recovering to around ¥158, where losses were limited.
As of 3 p.m., the quote was ¥158.04–04 to the dollar. The dollar was up 31 sen against the yen from the previous business day.
During European hours, the rate rose from the latter half of the ¥157 range to around ¥158. Supported by higher US long-term interest rates and movements in US technology stocks, the dollar-yen rate rose at one point to the ¥158.70 range, its highest level in about 3 weeks.
During Tokyo trading hours, the rate moved in the ¥158.60–70 range before recovering again ahead of the fixing. After the fixing, the dollar-yen rate accelerated its decline in response to the sharp fall in the Nikkei Average.
In afternoon trading, the euro held up against the yen but struggled to gain against the dollar. As of 3 p.m., the euro was quoted at ¥177.57–58 and $1.1235–1236.