Tokyo: The US dollar and Japanese yen both weakened today, influenced by economic data from the United States and political changes in Japan. A weak US jobs report has heightened expectations for an interest rate cut by the Federal Reserve, while the resignation of Japanese Prime Minister Shigeru Ishiba has impacted the yen.
According to Oman News Agency, the yen fell 0.6% against the US dollar, trading at 148.25, its lowest level in over a year. The currency remained steady against the euro and the British pound, holding at 173.91 and 200.33, respectively. The yen’s decline follows the unexpected resignation of Prime Minister Ishiba, which has created uncertainty in Japan’s political landscape.
The US dollar also experienced downward pressure due to a lackluster jobs report. The British pound slipped 0.11% to $1.3492, while the euro dropped 0.11% to $1.1709 after reaching a one-month high last Friday. The US dollar index remained stable at 97.87, following a 0.5% decrease on Friday.
In other currency movements, the Australian dollar edged up 0.05% to $0.6558, whereas the New Zealand dollar dipped 0.03% to $0.5891. These developments reflect the broader market reactions to both economic data from the United States and political shifts in Japan.