In Tokyo trading on the 24th, dollar-yen rebounded after briefly falling to ¥157.79 near the Tokyo fixing. It then rose to the mid-¥158 range in the afternoon on expectations of further U.S. rate hikes, with late-session movements drawing attention.
In Tokyo trading on the 24th, dollar-yen moved lower toward the Tokyo fixing, briefly falling to ¥157.79. The pair was also held back at times by the government's efforts to curb yen depreciation, but turned higher for the dollar in the afternoon on expectations of further U.S. rate hikes, rising to ¥158.48. Euro-yen changed from ¥179.51 to ¥180.45, while euro-dollar changed from 1.1390 to 1.1369.
As of 5:00 p.m., the foreign-exchange ranges were dollar-yen at ¥158.20-30 and euro-yen at ¥180.30-40. The Nikkei 225 opened at ¥65,476.44, reached a high of ¥66,249.11, fell to a low of ¥65,407.37 and closed at ¥65,513.99, up ¥495.04 from the previous day.
[Monetary policy] The Swiss National Bank kept its policy rate at 0% and indicated that it would intervene in the foreign-exchange market as necessary. [Officials' remarks] U.S. Treasury Secretary Bessent was reported to have agreed to extend the trade truce with China through 10 January, while President Xi Jinping (習近平) emphasized peaceful coexistence in U.S.-China relations. Finance Minister Katayama (片山) declined to comment on exchange-rate levels and said the principle of coordinated intervention by Japan and the United States remains in place.
Australia's August unemployment rate was announced at 4.6%, compared with 4.5% previously.