In the New York market on the 26th, the dollar-yen pair extended its gains and closed at ¥157.50. It briefly rose to ¥157.64 during the day. The euro fell against the dollar for a fourth consecutive session, while the euro-yen pair traded around ¥176.
In the New York market on the 26th, the dollar-yen pair ended higher again. It closed at ¥157.50, approximately 63 sen above the previous business day's close, and rose as high as ¥157.64 during the day. A break above the conversion line and base line briefly encouraged further gains.
Market participants said position adjustments ahead of key events this week were the main driver. The U.S. Federal Open Market Committee (FOMC) is scheduled to meet on the 27th and 28th, while the Bank of Japan's Monetary Policy Meeting is scheduled for the 29th and 30th.
The euro-dollar pair fell for a fourth consecutive session, closing at $1.1174. Position adjustments, along with positioning ahead of this week's U.S. and European monetary policy announcements and major technology earnings, influenced trading. The euro-yen pair rebounded for the first time in 4 business days and closed at ¥176.00.
The Brazilian real plunged, falling as low as ¥28.11 against the yen and 5.6042 reais against the dollar. The election of President Lula in Brazil's presidential election triggered significant reactions in equities, bonds and currencies.
Today's reference ranges were shown as dollar-yen 156.65−157.64, euro-dollar 1.1173−1.1227 and euro-yen 175.72−176.43.