The dollar at 3 p.m. was slightly higher at around 148 yen mid-range, supported by higher stocks and selling pressure on the yen.

October 9, 2024, 3:39 PM GMT+9 (excerpt)

The dollar at 3 p.m. is trading slightly higher at around 148 yen mid-range from the late New York market close the previous day (148.19/20 yen). Due to the rise in Asian stocks and risk-on sentiment, the selling pressure on the yen increased, pushing the dollar higher. A slight increase in after-hours trading of U.S. long-term interest rates also supported the dollar.
The dollar temporarily fell to around 148.02 yen in the morning, then edged higher as buying from domestic import firms came in ahead of the fixing. However, there were no signs of active buying and selling from actual demand, leading to a lack of clear direction.
The dollar then moved slightly around 148 yen in the first half. In the afternoon, the State Council News Office announced on the 9th that the Chinese Ministry of Finance will hold a press conference on the fiscal stimulus measures to boost the economy on the 12th. As a result, Hong Kong stocks turned higher, leading to rises in the Australian dollar and other yen crosses. This trend spread, causing the dollar to also rise slightly to around 148 yen mid-range.