Yen Has Rough Start to 2025 as Tokyo Traders Return From Holiday
- Strong US economic data lead to yen selling, dollar buying
- Japan’s 10-year yield rises to highest since July 2011
A visitor gives yen offerings at a shrine on the first business day of the year in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The yen slid the most among its major peers as traders in Tokyo returned from the holiday season and sold the currency.
The Japanese currency weakened as much as 0.4% to 157.83 per dollar Monday morning in Tokyo as traders reacted to strong US data including ISM manufacturing and initial jobless claims that were released during the holiday last week. The yen may continue to weaken ahead of US jobs data on Friday, according to strategists.