Business · Markets · 3 hrs ago
Yen stays near 157.6 per dollar as investors await US election results
The yen traded at about 157.6 yen per dollar in early Tokyo trading on November 2, little changed from late the previous week.
Investors were adjusting their positions ahead of US midterm election results, expected to emerge on November 4 Japan time.
Reports suggested Democrats could win a majority in the House or in both chambers, but traders were waiting to see the outcome.
Concerns about returns on artificial intelligence investments have weakened appetite for risk and supported the yen as a lower-risk asset.
The yen also rose against the euro, which fell against the dollar amid concerns about France’s public finances.
A sharp fall in US technology shares the previous week added to expectations that Japanese shares could decline on November 2.
Markets are waiting for the election count before taking larger positions.
The yen traded at 157.58–60 per dollar at 8:30 a.m. in Tokyo on Nov. 2, little changed from the previous Friday.
Investors were adjusting positions and waiting for the outcome of the US midterm elections, with voting scheduled for Nov. 3 and counting expected to progress on Nov. 4 Japan time.
Caution about returns on artificial intelligence investments and recent US stock declines supported demand for the yen as a lower-risk asset.
The yen rose against the euro to 175.89–92 per euro, while the euro weakened against the dollar.
- Who
- Investors in the Tokyo foreign exchange market.
- What
- The yen traded near 157.6 per dollar and rose against the euro.
- When
- At 8:30 a.m. in Tokyo on Nov. 2, 2026.
- Where
- The Tokyo foreign exchange market.
- Why
- Investors were adjusting positions and waiting for the US midterm election results. Concerns about AI investment returns and falling US stocks also supported the yen.
This story does not have two clearly opposing sides.
US stocks fell, with the Nasdaq Composite down 2.8% as selling spread amid concerns about AI investments.
The yen traded at 157.58–60 per dollar and 175.89–92 per euro.
Voting in the US midterm elections was scheduled to take place.
Counting of the US election results was expected to progress.
- Dollar exchange rate
- 157.58–60 yen per dollar at 8:30 a.m. Tokyo time on Nov. 2
- Euro exchange rate
- 175.89–92 yen per euro at 8:30 a.m. Tokyo time on Nov. 2
- Nasdaq Composite
- Down 2.8% on Oct. 30
- US midterm election
- Voting scheduled for Nov. 3; counting expected to progress Nov. 4 Japan time