In the Tokyo market on the afternoon of the 3rd, dollar-yen was largely flat at around ¥157.80, while crude oil was sharply lower from the previous day. Trading was subdued ahead of the US and Chinese elections.
In the Tokyo market on the afternoon of the 3rd, dollar-yen moved within a narrow range around ¥157, as participants sought trading cues amid a lack of market catalysts and uncertainty.
The trading ranges were ¥157.79 to ¥157.96 for dollar-yen, ¥176.52 to ¥176.76 for euro-yen, and 1.1177 to 1.1197 dollars for euro-dollar.
Although crude oil prices fell sharply from the previous day, scepticism about stabilisation in the Middle East was widespread, making it difficult for the situation to lead to dollar selling.
Across the market, the effects of market closures and uncertainty overlapped, and conditions were expected to remain focused on awaiting fresh catalysts.