The yen strengthened past the ¥159 level to ¥158.92. Against the backdrop of remarks by BOJ Policy Board member Takata Hajime (高田創), market observers speculated that a rate check may have been conducted in the foreign exchange market. US stocks rebounded, while commodity markets also moved.
The yen rose 0.79% against the US dollar late in the New York session, reaching ¥158.92. Following hawkish remarks by a BOJ Policy Board member, speculation emerged that a rate check may have been conducted in the foreign exchange market.
The move came against the backdrop of Takata Hajime (高田創) arguing that the BOJ should have greater flexibility over raising interest rates twice a year. Traders pointed to the possibility of a rate check rather than intervention.
The three major US stock indexes, the Dow, S&P and Nasdaq, all rose, while Dell Technologies surged after raising its full-year outlook. US Treasury yields moved in response to weaker-than-expected ADP employment data and moves in crude oil and gold.
Crude oil rose as tensions between the United States and Iran intensified, while gold rebounded after falling to a low. The dollar index remained at a slightly elevated level.