USD/JPY was little changed around ¥159.78 as of noon in the Tokyo market. It traded around 4 sen above the New York close of ¥159.74, with no clear direction and continued movement within a range.
USD/JPY was little changed in the Tokyo foreign exchange market, standing at ¥159.78 as of noon. The dollar was around 4 sen higher than the New York close of ¥159.74. After rising to ¥159.85, the pair at one point saw modest yen buying toward around ¥159.71, but both moves were temporary. Trading remained subdued around ¥159.80.
EUR/USD traded slightly lower, at around $1.1610 as of noon. The rise in the offshore US 10-year Treasury yield into the 4.77% range weighed on the pair, which continued to drift lower.
EUR/JPY was somewhat weaker, at ¥185.51 as of noon. It drifted lower in line with EUR/USD and at one point fell to ¥185.43.
The reference ranges so far today were ¥159.64–¥159.85 for USD/JPY, $1.1606–$1.1625 for EUR/USD, and ¥185.43–¥185.70 for EUR/JPY.
Information has circulated that Finance Minister Katayama (片山) confirmed at the US-Japan finance ministers’ meeting that he had held talks with US Treasury Secretary Bessent and that an orderly yen market is essential to the stability of global financial markets.