Yen weakens to 158.98 per dollar in Sydney trading

The Japanese yen weakened broadly in the Sydney foreign exchange market on the morning of the 21st, with the indicative USD/JPY quote at 158.98–98 yen as of 8:30 a.m. local time. That compared with 158.03–08 yen at the same time the previous day, a depreciation of roughly 0.95 yen. The yen also weakened against the Australian dollar, New Zealand dollar and euro, while the U.S. dollar showed mixed performance against those currencies. The Australian dollar rose to 113.10–11 yen from 112.64–65 yen, while slipping against the dollar to 0.7114–7114 from 0.7125–7126. The New Zealand dollar advanced to 94.50–53 yen from 93.82–84 yen and strengthened against the dollar to 0.5944–5945 from 0.5933–5938. The euro climbed to 185.72–76 yen from 184.59–60 yen and rose against the dollar to 1.1682–1684 from 1.1677–1678. The broad yen-selling trend may leave the currency on a soft footing as Tokyo trading begins, with moves above 113 yen for the Australian dollar and into the upper 185-yen range for the euro likely to influence cross-yen pairs (currency pairs involving the yen).

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