In the Tokyo market on the 11th, dollar-yen limited its losses, drifting lower during the morning before seeing some buying toward the evening and recovering toward the close. Other currency pairs also moved in response to developments in European currencies and equities.
In the Tokyo market on the 11th, the sharp rise in crude oil prices and movements in US long-term interest rates that had driven the market toward dollar weakness the previous day lost momentum. Dollar selling led in the morning, and dollar-yen fell to ¥153.96 at one point, but renewed dollar buying toward the close brought a modest recovery. Dollar-yen traded in a range centered around ¥154.00. Euro-yen fell from ¥179.54 to ¥178.80. Euro-dollar fell from $1.1617 to $1.1605.
As of 17:00, dollar-yen was trading at ¥154.20–30 and euro-yen at ¥178.90–179.00. The Nikkei Stock Average opened at ¥64,276.82, reached a high of ¥64,312.02, fell to a low of ¥63,208.63 and closed at ¥64,011.34, down ¥1,259.61 from the previous day. The market at times showed signs that the dollar's weakening trend was pausing, but overall it moved without establishing a clear direction.