In the Tokyo market on the morning of the 25th, the yen traded in the low ¥159 range per US$1. Dollar buying accelerated against the backdrop of the United States strengthening sanctions against Iran, while the yen was also bought back as the sanctions were viewed as being within expectations.
In the Tokyo foreign exchange market on the morning of the 25th, the yen traded in a range of ¥159.18 to ¥159.19 per US$1. The dollar was slightly firmer, and the yen’s weakening trend continued.
During the same period, the euro traded at ¥185.75 to ¥185.79, showing a tendency to weaken against the yen.
While there was speculation in the market that safe-haven dollar buying had accelerated, the US Treasury’s sanctions announced on the 24th were within expectations, prompting some buying back of the yen.
There were also continued calls for vigilance over possible currency intervention by the government and the Bank of Japan, and attention is focused on developments ahead.