The Japanese yen began to fall slightly across the $1 = 109 yen range on the 3rd as strong U.S. economic indicators encouraged yen selling and dollar buying.
In the Tokyo foreign exchange market, the yen fell 0.04 yen and 0.003% from 5 p.m. on the 30th to 1 dollar = 109.36-109.37 yen at 8:29 a.m. (GMT+8) on the same day.
However, the decline in the April Manufacturing Purchasing Managers Index (PMI), in two months compared to the previous month, stimulated concerns over a slowdown in the global economic recovery, calling for buying yen.
At 9:49 a.m., the yen was traded at 0.05 yen and 0.04% lower at 1 dollar = 109.37-109.38 yen.
In the Sydney foreign exchange market in Australia, the yen’s exchange rate started off 0.45 yen lower than the weekend to 1 dollar = 109.30-109.40 yen.
Earlier on the 30th of last month (local time), the JPY exchange rate fell and closed at 1 USD= 109.25-109.35 JPY, 0.40 JPYbehind the 29th.
As good U.S. economic indicators continued, buying the dollar against major currencies such as the euro and the yen took the lead.
Demand for dollars at the end of the month also encouraged the yen to sell and buy dollars.
The yen is falling against the euro in Tokyo’s foreign exchange market. At 9:42 a.m., the price was 1 euro = 131.57 to 131.62 yen, down 0.18 yen from the previous market.
The euro is rising against the dollar. At 8:42 a.m., 1 euro = $1.2028 to $1.2030, up $0.0010 from the previous day.
