While assessing the results of the U.S. midterm elections, dollar-yen continued to see buying-back activity in the Tokyo market despite paring its losses. Dollar-yen changed from ¥158.74 to ¥157.40, while the Nikkei Average hit a low of ¥60,030.10.
In the Nikkei and FX markets on the 4th, dollar-yen traded in the upper ¥158 range before buying-back activity emerged as the market assessed the election results, despite the pair paring its losses. Dollar-yen changed from ¥158.74 to ¥157.40.
During European hours, euro-yen changed from ¥177.82 to ¥177.15, while euro-dollar rose from $1.1186 to $1.1262.
As of 5 p.m., dollar-yen was trading at ¥158.10-20 and euro-yen at ¥177.70-80. The Nikkei Stock Average opened at ¥62,973.16, reached a high of ¥63,105.47 and a low of ¥60,030.10, and closed at ¥62,188.63 (down ¥893.23 from the previous day).
The moves showed that the yen saw some buying back as the results of the U.S. midterm elections became largely clear and interest rates and the dollar moved in response, but that the yen's appreciation lacked momentum.