Business · Markets · 5 hrs ago

Yen ends flat at 158.10–20 per dollar in New York trading

Yen ends flat at 158.10–20 per dollar in New York trading

The yen ended unchanged against the dollar in New York on October 21, at 158.10–20 yen per dollar.

Higher US long-term interest rates made dollar holdings more attractive and put pressure on the yen.

Rising oil prices also raised concern about Japan’s trade balance because the country relies on imported energy.

A Reuters report about possible US staff evacuations in the Gulf briefly pushed oil higher, but a US State Department spokesperson said the departure order applied to Saudi Arabia, not the entire Gulf region.

With few major US economic figures released, traders responded mainly to movements in oil, bonds and shares, and the yen moved both ways.

The yen also strengthened slightly against the euro, while the euro edged lower against the dollar amid concerns about France’s finances and political climate.

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Mark ChandlerAnalyst at Bannockburn Capital Markets
On the 21st, economic indicators were limited, making trading likely to be driven by moves in stock and bond markets.
via Nikkei