In the Tokyo foreign exchange market, the dollar traded in the upper ¥157 range against the yen. At noon, it was ¥157.99–¥158.00, with the dollar strengthening and the yen weakening from the previous weekend. With few new catalysts, upside movement is expected to remain limited.
In the Tokyo market on the morning of the 5th, the dollar remained in the upper ¥157 range against the yen amid a lack of fresh cues. The rate at noon was ¥157.99–¥158.00, representing approximately 41 sen of dollar strength against the yen from ¥157.58–¥157.59 at the end of the previous week.
During European trading, the dollar moved narrowly between the low and high ¥157 range. During U.S. trading, weak September employment data briefly pushed it below ¥157, but it was subsequently bought back against a backdrop of movements in crude oil prices and higher U.S. long-term interest rates, trading in the ¥157.70–¥157.90 range toward the close.
Supply and demand were not significantly skewed at the start of the month, and the dollar was observed consolidating in the upper ¥157 range ahead of the central rate fixing. Selling briefly intensified after 10 a.m., pushing the dollar down to the ¥157.40 range, but it was bought back shortly afterward. Expectations for a U.S. FOMC rate hike have receded, but inflation-related indicators are seen as key to the decision, and some market participants said they wanted to assess the September consumer price index (CPI). The prime minister's policy speech and the ISM U.S. services PMI were scheduled for the afternoon, reinforcing the market's wait-and-see mood. factsItemsForDisplay3to6PeriodsOnly (no additional types needed) The opening and closing expressions are neutral and based solely on the facts in the article.