In Tokyo trading on the 1st, dollar-yen remained firm as the final US GDP reading was revised sharply upward and US interest rates rose to high levels. Yen selling strengthened on the view that the BOJ's tightening was within expectations, and the dollar rose into the ¥158 range.
In Tokyo trading on the 1st, dollar-yen remained firm. The final reading for US gross domestic product (GDP) was revised sharply upward, and US long-term interest rates rose to high levels.
Dollar buying led the move, while yen selling also strengthened. The BOJ's tightening was viewed as within expectations, and the dollar rose from ¥157.35 to ¥158.39.
The dollar eased somewhat in the afternoon, but dollar-yen settled in the ¥158 range. The trading ranges were ¥157.35–¥158.39 for dollar-yen, ¥178.31–¥179.28 for euro-yen and 1.1315–1.1336 dollars for euro-dollar.