Dollar selling prevailed in the Tokyo foreign exchange market against a backdrop of weakness in U.S. technology stocks, while the yen remained little changed in the upper ¥157 range. Falling U.S. long-term yields the previous day and concerns over AI-related investments affected market sentiment, while the euro rose against the dollar.
In the Tokyo foreign exchange market early on the 30th, dollar selling prevailed following a sharp fall in U.S. technology stocks, and the yen traded in the upper ¥157 range per dollar. As of 8:30 a.m., the range was ¥157.74 to ¥157.75, with the yen stronger and the dollar weaker than at 5 p.m. the previous day.
In New York trading, the U.S. 10-year Treasury yield ended at 4.94%, down 0.08 percentage points from the previous day, as concerns over AI-related investment resurfaced. Large declines in Intel and Amazon shares intensified the risk-off trend, capping the dollar's upside.
Among domestic economic indicators, October core CPI for Tokyo's central wards, excluding fresh food, rose 2.6% year on year, matching market expectations. Its direct impact on the yen was limited. The euro rose against the dollar, while EUR/JPY climbed to the mid-¥176 range.
Today's major currency ranges were indicated as USD/JPY ¥157.60–¥157.78, EUR/USD $1.1174–$1.1192 and EUR/JPY ¥176.19–¥176.48. Going forward, U.S. economic indicators and corporate earnings are expected to influence exchange rates through risk sentiment and interest-rate trends.