Dollar-yen fell for a third straight session in the New York market on the 7th, closing at ¥154.36. After falling to ¥154.06 during European trading, the pair struggled to recover and was pushed back into the lower ¥154 range.
Dollar-yen fell sharply for a third straight session in the New York foreign exchange market on the 7th, closing at ¥154.36, approximately ¥1.90 below the previous New York close of ¥156.26. Speculation over an acceleration in the Bank of Japan’s pace of rate hikes weighed on the market, sending the pair down during European trading to ¥154.06, its lowest level since 23 February.
The pair subsequently lost direction and was bought back to around ¥154.81 on a reaction to the sharp decline, but after its limited recovery became clear, it was pushed back into the lower ¥154 range, with price movements generally subdued.
Euro-dollar edged higher for a second straight session, closing at $1.1623, up $0.0009 against the previous New York close of $1.1614. It traded within a narrow range in the lower $1.16 area.
Euro-yen fell sharply for a third straight session, closing at ¥179.40, approximately ¥2.06 below the previous New York close of ¥181.46. After falling to ¥179.23 during European trading, the pair lacked direction, with a limited recovery followed by subdued movement around the mid-¥179 range.