The yen weakened in the New York market on the morning of the 23rd, with the dollar rising to around ¥158. Movements in crude oil prices and a rise in U.S. long-term interest rates were behind the move.
In the New York foreign exchange market, yen selling and dollar buying prevailed against a backdrop of a pause in crude oil selling and rising U.S. long-term interest rates, sending the yen down to around ¥158 per dollar. As of 9:00 a.m., the dollar was trading at ¥157.90–158.00, making the yen approximately ¥0.53 weaker and the dollar stronger compared with ¥157.37–157.47 at 5:00 p.m. the previous day.
There was speculation in New York, where the United Nations General Assembly is being held, that representatives from the United States and Iran were seeking to resume talks aimed at ending the fighting, and U.S. crude futures briefly fell below $90 in after-hours trading on the evening of the 22nd. Crude oil selling subsequently eased, while the trend of rising U.S. long-term interest rates and dollar buying against major currencies continued.
Amid concern over foreign exchange intervention by the authorities, the yen showed signs of limiting its decline at a level edging toward ¥158. Trading has thinned ahead of the extended holiday period, and it was also reported that the Bank of Japan had conducted a so-called rate check, in which it inquires with financial institutions about market levels.
As of the same time, the euro was trading at $1.1400–1.1410 against the dollar and around ¥180.10–180.20 against the yen, with the yen and euro continuing to weaken.