Dollar-yen was weak in the Tokyo market, falling to ¥157.80. The move was attributed to developments in US long-term interest rates and uncertainty over the Federal Reserve chair's future monetary policy.
In the afternoon session in Tokyo, dollar-yen remained weak and fell to ¥157.80, below its morning low. US long-term interest rates were trending lower, making dollar-selling more likely.
The day's trading ranges were ¥157.80–¥158.18 for dollar-yen, ¥177.15–¥177.44 for euro-yen and $1.1208–$1.1241 for euro-dollar. Reports that the Federal Reserve chair had not indicated the direction of future monetary policy heightened concerns over the outlook for US policy and increased caution.