The dollar was slightly lower in the afternoon at around 147 yen, with hopes for additional measures from China falling through.

October 8, 2024, 3:27 PM GMT+9 (excerpt)

In the afternoon at 3 o'clock, the dollar/yen is trading at around 147 yen in the late New York market from the previous day, with a slight decline in the dollar and an increase in the yen. Additional economic measures announced in China did not turn out to be as large as expected by the market, causing a lack of risk-on sentiment and leading to a generally firm movement of the yen.
The dollar lowered its upper range from the early morning high of around 148 yen to the mid-147 yen level. In the Chinese stock market after the holiday break, although the major stock price indices initially rose by nearly 10% right after the opening, the gains gradually narrowed, leading to an increase in the firmness of the yen in the foreign exchange market due to risk aversion.