Forex
$USDJPY Pair Drops to 156.93 Yen Amid U.S.-Japan Concerns
The dollar-yen pair dropped to its lowest level in recent times after U.S. and Japanese authorities expressed concerns over yen weakness during their summit meeting.
President Trump voiced his concern about the weak yen, while Finance Minister Satsuki Katayama revealed that President Trump expressed his worries during the meeting.
The dollar-yen pair briefly fell to 156.93 yen in New York trading on the 25th, but dip-buying emerged in the 156 range, underscoring underlying resilience.
Market participants are now focused on the divergence in monetary policy direction between the U.S. and Japan, with expectations for a one-way move toward dollar weakness and yen strength remaining limited.