The yen moved higher against the dollar in the New York market from the previous day, reaching ¥153.94–154.04 per dollar as of 8:40 a.m. The previous close was ¥154.36–154.46, with the rise in oil prices and higher U.S. long-term interest rates seen as the background.
In the New York foreign exchange market, the yen traded in a range of ¥153.94 to ¥154.04 per dollar as of 8:40 a.m. It was moving higher against the dollar compared with the previous day.
As of 5:00 p.m. on the 10th, the yen was at a level 88 sen weaker against the dollar from the previous day, trading in a range of ¥154.36 to ¥154.46 per dollar.
Reports said that expectations of higher U.S. long-term interest rates, driven by rising oil prices and stronger inflation expectations, led to yen selling and dollar buying against the backdrop of a widening Japan-U.S. interest rate gap.