After the New York market opened, dollar-yen fell to the upper ¥157 range. US stocks moved lower and AI-related stocks were sold following Alphabet's earnings, putting pressure on the dollar.
Dollar-yen subsequently fell to the upper ¥157 range. Once regular trading began in the US stock market, dollar-yen came under selling pressure, with stronger selling in AI-related stocks following the earnings announcement from Alphabet, Google's holding company, cited as a factor. Dollar weakness is currently capping dollar-yen's upside.
Meanwhile, yen weakness is evident in cross-yen pairs such as euro-yen and pound-yen. US Treasury yields and crude oil prices have both fallen, and although the dollar is generally believed to be weakening, the move has not shifted toward yen strength.