In Tokyo trading on the 12th, dollar-yen struggled to advance, with its upside capped by a tug-of-war between intervention warnings against yen depreciation and expectations of additional US rate hikes. It traded in the low ¥159s during the day and rose again in the afternoon, but gains remained limited.
In Tokyo trading on the 12th, dollar-yen struggled to advance, trading around ¥159.70 during the day. Although it rose to ¥159.94 toward the evening, strong caution over coordinated intervention by Japan and the United States weighed on the pair, and its upside was constrained at times.
Euro-yen fell from the upper ¥177s to ¥176.80, while euro-dollar declined from $1.1100 to $1.1067. At 17:00, dollar-yen was around ¥159.70 to ¥159.80, and euro-yen was around ¥177.00 to ¥177.10.
The Nikkei Average opened at ¥61,475.11, reached a high of ¥61,788.44 and a low of ¥60,643.79, and closed at ¥60,819.36, down ¥429.23 from the previous business day.
Economic indicators showed Japan's Domestic Corporate Goods Price Index (October) up 7.1% year on year, the UK's Industrial Production (September) up 3.1%, and the UK's GDP (July-September) up 1.9%.