In the Tokyo market on the 28th, dollar-yen recovered to ¥157.91 as of noon. From a level slightly below the New York market close of ¥157.95, it pared its decline after falling to the morning low of ¥157.79.
Dollar-yen was ¥157.91 as of noon, around 4 sen below the New York market close of ¥157.95. After the yen reached ¥157.79 in the morning following remarks by Finance Minister Katayama (片山) warning against yen depreciation, the decline temporarily halted. The pair then showed signs of moving back toward ¥158 as the US 10-year Treasury yield rose to around 5.02% in after-hours trading.
Euro-yen made a modest recovery to ¥175.69. As this was about 3 sen below the New York market close of ¥175.72, it moved back toward around ¥175.74 in response to dollar-yen movements.
Euro-dollar traded in a narrow range. At $1.1126 as of noon, it was slightly above the New York close of $1.1125, but the pair only extended its downside marginally to $1.1120 and showed no clear direction.
The reference ranges recorded so far today were ¥157.79–158.04 for dollar-yen, $1.1120–1.1132 for euro-dollar, and ¥175.56–175.86 for euro-yen.