In the New York FX market on 31 August, the dollar rose as high as 159.90 against the yen before falling to close at 159.60. Dollar buying prevailed on higher oil prices and remarks by Treasury Secretary Bessent.
In the New York FX market on the 31st, USD/JPY rose as high as 159.90 before falling to close at 159.60. Higher oil prices encouraged dollar buying, while remarks by the U.S. Treasury secretary provided a catalyst for yen buying.
EUR/USD fell as low as 1.1591 before rebounding to 1.1621 at the close. The euro came under temporary selling pressure as Germany's consumer price index failed to accelerate as much as expected.
EUR/JPY rose from 185.20 to 185.64. GBP/USD moved from 1.3536 to 1.3565, while USD/CHF moved from 0.8089 to 0.8069.
As an economic indicator, the August Dallas Fed Manufacturing Activity Index came in at 11.6, above the forecast of +1.6.