Dollar-Yen Hits Brief Low of 157.93 Amid Intervention Jitters

The dollar-yen pair declined in Tokyo foreign exchange trading on the 25th, briefly falling to 157.93 during Asian hours.

This came after Finance Minister Satsuki Katayama revealed that President Trump had expressed concern over yen weakness at the Japan-U.S. summit.

The U.S. long-term interest rates also edged lower in after-hours trading, weighing on the dollar.

By 3 p.m., the pair had recovered to 158.24-25 yen per dollar, a mere 4 sen of dollar strength/yen weakness compared with the previous day's level of 158.20-22.