Selling of USD/JPY continued in European trading, with the pair falling to ¥155.55 at 22:00. The euro was slightly firmer against the dollar, while EUR/JPY drifted lower.
USD/JPY selling continued in European foreign exchange trading on the 3rd. At 22:00, the pair was at ¥155.55, around ¥0.76 weaker for the dollar than the ¥156.31 level at 20:00, with yen buying continuing after the New York market opened. The decline in long-term US interest rates, expectations that the BOJ would accelerate the pace of rate hikes, and expectations that the US side would seek to correct the yen's weakness were cited as background factors. Remarks by Federal Reserve Governor Waller that he would support keeping interest rates unchanged if the disinflationary trend continued also had an impact.
“EUR/USD was slightly firmer, rising to $1.1626 at 22:00 from $1.1604 at 20:00. Dollar selling advanced against the backdrop of lower long-term US interest rates.
“EUR/JPY drifted lower, standing at ¥180.84 at 22:00 compared with ¥181.38 at 20:00. As broad yen strength continued after the New York market opened, the low extended to ¥180.67.
The reference ranges so far today are listed as ¥155.39 to ¥158.97 for USD/JPY, $1.1584 to $1.1630 for EUR/USD, and ¥180.67 to ¥184.18 for EUR/JPY.