In European market trading, USD/JPY fell to around ¥157.68 at one point before recovering to the ¥157.90 range. Yen buying accelerated at one point after reports that the United States had expressed concern about yen depreciation at the Japan-U.S. summit.
In European markets, USD/JPY temporarily fell as low as ¥157.61 before recovering to the ¥157.90 range. Market attention focused on developments surrounding U.S. concerns about yen depreciation as a factor influencing the movements of major currencies.
Yen buying prevailed, and reports indicated that the major currencies' recoveries were limited. Against this backdrop, the pause in USD/JPY's decline came into focus.
The trading ranges were ¥157.61 to ¥158.29 for USD/JPY, ¥179.50 to ¥180.29 for EUR/JPY, and $1.1387 to $1.1394 for EUR/USD.
Against the backdrop of developments in European markets and concerns on the U.S. side, there were periods when movements in the yen exchange rate remained limited.