Amid a mix of safe-haven yen and dollar buying against a backdrop of a global equity sell-off, dollar-yen rebounded from its morning decline and traded around ¥158, while other major currencies showed pronounced dollar and yen strength.
In the morning, dollar-yen fell to ¥157.26, but later rebounded to ¥158.01 as the dollar recovered. From before noon, it moved within a narrow range in the upper ¥157s.
Safe-haven yen buying led the market against a backdrop of declines in Asian stocks, sending Japanese equities sharply lower. The Nikkei 225 fell ¥3,643 at the close. Some investors also reduced their positions ahead of the US employment report.
Euro-dollar fell from around $1.1235 in the morning as dollar buying prevailed, weakening to $1.1191 in the afternoon. Pound-dollar also fell from $1.3464 in the morning to $1.3422 in the afternoon.
Cross-yen pairs were generally soft. Euro-yen fell to ¥176.49 before being pushed back to the ¥176.60 range, while pound-yen fell to the ¥211 range and showed only a limited subsequent rebound.
With the US employment report due at 10:30 p.m., investors were seen curbing excessive positions, and nervous trading conditions continued across the market.