In the New York market on 1 October, dollar/yen initially fell to the upper ¥157 range before rebounding to the lower ¥158 range. US economic indicators, developments in the Middle East and crude oil prices all had an impact.
In the New York foreign exchange market on 1 October, dollar/yen fell to ¥157.23 before rising to ¥158.25 at the close. Amid concern over intervention to correct yen depreciation, initial US jobless claims came in below expectations, indicating resilience in the labor market, while the price component of the September ISM manufacturing index rose. President Trump warned of the possibility of intensifying attacks on Iran, and reports that the US government would send an aircraft carrier to the Middle East in November pushed up crude oil prices, supporting dollar buying. The euro changed from $1.1311 to $1.1215, while euro/yen changed from ¥178.58 to ¥176.77.
Meanwhile, pound/dollar changed from $1.3248 to $1.3181, and dollar/Swiss franc changed from CHF0.8360 to CHF0.8292. NY crude oil futures extended gains on 1 October, as concerns over intensified US attacks on Iran and supply concerns pushed up prices. Economic indicators included initial US jobless claims of 197,000, continuing claims of 1.701 million, a September manufacturing PMI final reading of 55.9, a September ISM manufacturing index of 54.5, and an August 0.9% month-on-month increase in construction spending.