Overview
- The yen traded around ¥156 per dollar in Tokyo and New York, with moves into the high‑¥156s as dollar buying gained traction.
- Market participants cited the wider Japan–U.S. rate differential after U.S. long‑term yields climbed, reinforcing pressure on the yen.
- Investors adjusted positions ahead of the Dec. 9–10 FOMC, with many expecting the Fed to signal caution on the pace of future rate cuts.
- U.S. stocks fell for a second day, with the Dow down about $215 on Dec. 8 and $179 on Dec. 9 as traders braced for the Fed’s guidance.
- Tokyo shares swung on Dec. 10, briefly topping 51,000 before reversing as semiconductor names slid, while traders also monitored BOJ Governor Ueda’s remarks for yen cues.