Euro/yen weakened to the low ¥177 range, while the Nikkei Average surged after the open. The market is moving while assessing trends in U.S. long-term interest rates and factors behind the dollar’s weakness.
Euro/yen came under pressure from resistance on the upside and weakened to around ¥177.37. Although it was bought at times in the Oceania market at the start of the week, it was reportedly dragged down by a pause in the rise of dollar/yen and the lack of further gains in euro/dollar.
Meanwhile, the Nikkei Average rapidly widened its gains after the open and reportedly rose by more than ¥1,500 at its peak. The impact on euro/yen, however, was said to have been limited.
The article contains no additional information on specific trading conditions or confirmed figures, and further reports are awaited regarding the market’s direction and future developments. Market participants are monitoring cross-yen pairs and Japanese stocks in parallel.