In the Tokyo market, the dollar-yen exchange rate remained firm. After temporarily falling to the lower ¥159 range, it moved with ¥160 in sight. Expectations for an additional U.S. rate hike and government efforts to restrain yen depreciation were cited as market factors.
In intraday trading, the dollar-yen exchange rate maintained a firm tone and moved toward ¥160 amid attention to government efforts to restrain yen depreciation and the direction of U.S. monetary policy. The rate fell as low as ¥159.48, while rebounding to ¥159.87 in the afternoon.
The trading ranges were ¥159.48 to ¥159.83 for dollar-yen, ¥176.80 to ¥177.28 for euro-yen, and $1.1067 to $1.1100 for euro-dollar.
The day's market conditions were reported as movements taking place under close market scrutiny, with expectations for an additional U.S. rate hike and concern over possible Japanese foreign-exchange intervention continuing.