Yen buying and dollar selling were mixed in the London market, with USD/JPY softening to the upper ¥157 range. Finance Minister Katayama's (片山) remarks about taking decisive action on foreign exchange and Prime Minister Takaichi's (高市) comments warning against yen depreciation heightened market tensions.
In the London market, movements toward a stronger yen and weaker dollar were mixed, with USD/JPY trading in the upper ¥157 range. Lower crude oil prices and a decline in US Treasury yields are also supporting pressure to buy yen and sell dollars.
Finance Minister Katayama (片山) indicated that decisive measures would be taken against excessively speculative movements, heightening caution in the foreign exchange market. Prime Minister Takaichi (高市), referring to discussions about yen depreciation at the Japan-US summit, emphasized the need to correct the yen's weakness.
EUR/USD is trading around 1.14, while EUR/JPY has shown nervous movements near ¥180. GBP/USD is in the low 1.32 range, and GBP/JPY is moving around ¥210.
NY crude oil is around $93, and the US 10-year Treasury yield is around 5.17%. Cross-yen pairs are expected to remain in a phase of wider swings.
The impact of options-related factors has also been cited in USD/JPY movements, and market adjustments ahead of the weekend may continue.