Euro-dollar rebounded in the New York market on the 6th, closing at $1.1259. Dollar-yen rose to around ¥158.10, while euro-yen rose into the ¥178 range. Expectations of easing concerns over French fiscal policy and movements in long-term US interest rates drove the market.
In the New York foreign exchange market on the 6th, euro-dollar rebounded. It closed at $1.1259, up from $1.1223 at the previous business day's New York close. The decline in French long-term bond yields, against the backdrop of the publication of the National Rally's fiscal proposals in the French presidential election, favored euro buying. The intraday high was $1.1277.
Dollar-yen extended its gains, closing at ¥158.10, approximately ¥0.19 higher than the previous day's New York close of ¥157.91. Expectations that the Bank of Japan would be cautious about raising interest rates at this month's meeting and the decline in long-term US interest rates produced conflicting forces, limiting the market's directional bias.
Euro-yen rebounded for the first time in 8 business days, closing at ¥178.00, up approximately ¥0.78 from the previous day's New York close of ¥177.22. After setting a new intraday high of ¥178.34 shortly after 9 p.m., it settled around ¥177.74.
The reference ranges for the day were listed as ¥157.77-¥158.25 for dollar-yen, $1.1203-$1.1277 for euro-dollar and ¥177.03-¥178.34 for euro-yen.