The yen rose against the dollar in the New York market on the 25th, briefly reaching ¥156.94 per dollar. Caution spread over coordinated action by Japan and the United States after the Takaichi administration made public the U.S. president’s concern about the yen’s exchange rate.
The yen rose against the dollar in the New York foreign exchange market on the 25th, briefly reaching ¥156.94 per dollar. Expectations of coordinated action to correct the yen’s weakness strengthened after Japan and the United States announced that their leaders had shared concerns about exchange-rate movements.
An online meeting between Finance Minister Katayama Satsuki (片山さつき) of Japan’s Ministry of Finance and Secretary Bessent of the U.S. Treasury was also viewed as a factor, prompting dollar selling and yen buying. As of 5 p.m., the yen was trading at around ¥157.22–¥157.32 per dollar, up ¥1.60 against the dollar from the previous day.
The euro was trading within a range of $1.1386–$1.1396 and ¥179.07–¥179.17. Caution over statements by Prime Minister Takaichi (高市) and the coordinated stance of the two countries has been cited as a factor behind short-term exchange-rate volatility.
The developments were reported by Kyodo News and show signs of affecting trading during Asian hours as well.