Yen exchange modest price movement Oct 17 at 18:18 in anticipation of European economic turmoil
The Tokyo foreign exchange market and the yen exchange rate on the 17th showed a modest price movement against the dollar.
The yen exchange rate at 5 pm was 19 yen compared to the 16th, and the weaker yen was 1 dollar = 108.83 yen to 84 yen. Compared to the 16th, the euro was 66 yen, and the weaker yen against the euro was 1 euro = 120.55 yen to 59 yen. The euro was 1 dollar = 1.1077 to $ 79 against the dollar.
A market official said, “There was a move to buy euros by selling yen and dollars in part because of the expectation that the negotiations on the withdrawal from the EU in the UK reached an agreement and the European economic turmoil could be avoided. Many investors refrained from aggressive transactions to determine the results of the EU summit tonight. "