💱US Dollar/Japanese Yen FX Spot Rate
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Hawkish Fed and yen weakening past 161 per dollar despite verbal warnings
Impact on assets 1
Others
Asian equity markets traded lower on Friday, failing to carry over momentum from an overnight gain on Wall Street, as a hawkish Federal Reserve and negative U.S. equity futures pressured sentiment. South Korea's KOSPI led regional losses, dropping 1.71% to finish near 8,919.35, while Japan's Nikkei fell 0.32% to close above the 71,400 milestone and the broader Topix Index edged down 0.1% to 4,064. In currency markets, the Japanese yen weakened past 161 per dollar, hitting its lowest level since July 2024 despite verbal warnings from authorities. Crude oil stabilized around $76 per barrel but remained on track for a steep 10% decline for the week, and safe-haven gold dropped below $4,200 an ounce. Markets in mainland China and Hong Kong were closed for the Dragon Boat Festival, and U.S. markets were closed for the Juneteenth holiday.
Hawkish Fed and yen weakening past 161 per dollar despite verbal warnings