USD/JPY opened under selling pressure in Tokyo on the 9th, with the rate at 153.73 as of 8:00. The dollar was approximately ¥0.25 weaker than the New York close of 153.98, and briefly fell as low as 153.63. EUR/JPY was also weighed down by selling, while EUR/USD edged higher.
USD/JPY opened under selling pressure in Tokyo on the 9th, with the rate at 153.73 as of 8:00, approximately ¥0.25 below the New York close of 153.98. Yen buying and dollar selling intensified at times after U.S. Treasury Secretary Scott Bessent suggested that intervention in the yen market was possible, sending USD/JPY temporarily down to 153.63.
EUR/JPY likewise opened with selling pressure and stood at 178.72 as of 8:00. It was approximately ¥0.27 below the NY close of 178.99 and temporarily fell to 178.62 following the U.S. Treasury Secretary's remarks aimed at restraining yen weakness. EUR/USD was 1.1626 as of 8:00, approximately 0.0002 higher for the euro than the NY close of 1.1624.
The reference ranges so far today are 153.63-154.01 for USD/JPY, 1.1624-1.1628 for EUR/USD and 178.62-179.13 for EUR/JPY.