In the Tokyo market at the start of the week, the yen was trading at around the upper ¥157 range to the dollar, approximately 40 sen stronger than at the end of the previous week. Views that Japanese and US authorities will act to correct yen weakness are spreading in the market.
In the Tokyo foreign-exchange market at the start of the week, the yen was approximately 40 sen stronger than at the end of the previous week, with the dollar trading in the upper ¥157 range. Finance Minister 片山 indicated after an online meeting that Japan would strengthen cooperation with the United States, while US Treasury Secretary Bessent posted that a stronger yen was desirable. Views in the market that Japanese and US authorities will act to correct yen weakness are encouraging yen buying.
Against the euro, the yen was stronger and the euro weaker, with trading at around the mid-¥179 range per euro.