New York, Jan. 9 (Jiji Press)–The dollar surged above 158 yen for the first time since January 2025 in New York trading on Friday, following news reports about a possible snap election in Japan. At 5 p.m., the dollar stood at 157.89-99 yen, up 1.07 yen from the same time on Thursday. Dollar buying for yen grew after news reports that Japanese Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, the lower chamber of the Diet, Japan’s parliament, at the beginning of the ordinary Diet session to be convened on Jan. 23 to hold a general election. This has led to speculation that an aggressive fiscal policy advocated by Takaichi will be accelerated, market sources said. The dollar was also aided by an improvement seen in U.S. jobs data for December last year that was released earlier on Friday. Still, the yen attracted buybacks later on the back of weaker-than-expected growth in U.S. nonfarm payrolls. END [Copyright The Jiji Press, Ltd.]
Dollar Hits 1-Year High above 158 Yen in New York
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