In Tokyo foreign-exchange trading on the 31st, the dollar softened to the mid-¥159 range toward the end of the session. The yen was reportedly bought as European players entered the market.
In the Tokyo market on the afternoon of the 31st, the dollar weakened against the yen toward around ¥159.57 per dollar late in the session as the yen was bought following the entry of European players.
In overseas trading at the end of the previous week, the dollar moved sideways in the ¥159.50 range during European hours, fell to around ¥159.40 during U.S. hours after remarks by Fed Chair Warsh were released, and then rebounded sharply to nearly ¥160. It rose to a level not seen since 31 July, when coordinated yen-buying intervention by Japan and the United States was carried out.
In early Tokyo trading at the start of the week, the dollar was around ¥160.00, but selling gained the upper hand after 9:00 a.m. and it fell below the key ¥160 level around the Tokyo fixing, remaining around the same level near noon. In the afternoon, it again traded around ¥159.70, with market sources saying that yen buying spread toward the end of the session.
The euro was soft against the yen late in the session but firm against the dollar. As of 5:00 p.m., €1 was ¥185.13–15, while against the dollar it was around $1.1602–1.1602 per euro.