Dollar Falls Against the Yen at the New York Close; EUR/JPY and GBP/JPY Also Drop
In late New York trading on Thursday (July 30), the dollar fell 2.50% against the yen to 159.31 yen. It was roughly unchanged from the start of the Asia-Pacific session, after hitting an intraday high of 163.74 yen at 3:55 p.m. Beijing time. A mild pullback started at 6:00 p.m., followed by a sharp intraday plunge beginning at 9:36 p.m., with the pair dropping to 157.98 yen at 10:22 p.m., close to the May 14 low of 157.32 yen. Thursday’s overall decline was certain to exceed that on April 30. The euro fell 1.95% against the yen to 183.73 yen, while the pound fell 1.76% against the yen to 214.653 yen.