Business · Markets · 1 hr ago
Yen rises to mid-156 range against dollar as investors seek safety
The yen rose to 156.59–156.61 per dollar at 8:30 a.m.
in Tokyo on Oct.
23, gaining 63 sen from the previous afternoon.
The move came as investors sought safer assets after Japanese and US shares fell, with selling focused on AI-related stocks.
The Nasdaq Composite, which has a high share of technology companies, closed down 2.6% on Oct.
22.
Concerns about the financial impact of AI investment grew after Meta Platforms released its results.
Japan’s September consumer prices, excluding fresh food, rose 2.1% from a year earlier, supporting expectations of continued Bank of Japan rate increases.
The yen also gained against the euro, while the euro weakened against the dollar amid continuing social unrest in France.
The sources give no forecast or next policy decision.
The yen rose to 156.59–61 per dollar at 8:30 a.m. in Tokyo on Oct. 23, up 63 sen from the previous day’s 5 p.m. level.
The move reflected investors’ retreat from risk and buying of the yen as a safe-haven asset.
Japanese and US stocks fell on Oct. 22, while the Nasdaq Composite closed down 2.6%.
Japan’s September core consumer prices rose 2.1% from a year earlier, matching market expectations and supporting expectations of continued Bank of Japan rate increases.
The yen also strengthened against the euro, reaching 175.68–74 yen per euro at 8:30 a.m. in Tokyo.
- Who
- Investors sought safer assets, while the yen strengthened.
- What
- The yen rose to 156.59–61 per dollar, its strongest level in more than a month, according to Bloomberg.
- When
- Early Oct. 23, 2026, in Tokyo.
- Where
- The Tokyo foreign exchange market.
- Why
- A technology-stock selloff prompted risk-averse buying of the yen; narrowing US-Japan interest-rate differences and Japanese inflation data also supported it.
This story does not have two clearly opposing sides.
Meta Platforms announced results that contributed to concerns about the finances of AI investment.
Japanese and US stock markets fell, and the Nasdaq Composite closed down 2.6%.
The yield on the US 10-year Treasury fell temporarily to 4.93%, its lowest level since late September.
The yen traded at 156.59–61 per dollar in Tokyo, 63 sen higher than the previous day’s 5 p.m. level.
- Dollar exchange rate
- 156.59–61 yen at 8:30 a.m. in Tokyo on Oct. 23
- Change against dollar
- Yen rose 63 sen from the previous day’s 5 p.m. level
- Nasdaq Composite
- Fell 2.6% on Oct. 22
- Japan core consumer prices
- Rose 2.1% year on year in September
- Euro exchange rate
- 175.68–74 yen at 8:30 a.m. in Tokyo on Oct. 23