Dollar buying accelerated against a backdrop of rising US interest rates, sending the New York yen rate down to the first half of the ¥154 range. Investors are focusing on movements in US long-term interest rates and the release of US economic data.
Dollar buying prevailed against a backdrop of US interest-rate movements, pushing the New York yen rate down to the first half of the ¥154 range.
The article provides limited detail on the specific figures and background, but the move is believed to have been driven by rising US interest rates.