The U.S. dollar stayed strong in the mid-161 yen zone early Tuesday in Tokyo after hitting a fresh 37-year high overnight, as rising U.S. Treasury yields reinforced prospects that the interest rate gap between the United States and Japan will remain wide.
At 9 a.m., the dollar fetched 161.51-52 yen compared with 161.44-54 yen in New York after hitting 161.72 yen, its highest since December 1986, and 161.01-03 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0735-0739 and 173.38-46 yen against $1.0735-0745 and 173.40-50 yen in New York and $1.0754-0756 and 173.16-20 yen in Tokyo late Monday afternoon.
Tokyo stocks opened mixed as rises tracking overnight gains on Wall Street were offset by selling after a recent rally.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 133.60 points, or 0.34 percent, from Monday to 39,497.46. The broader Topix index was up 1.92 points, or 0.07 percent, at 2,826.20.
On the top-tier Prime Market, decliners were led by pulp and paper, and metal product issues, while insurance and transportation equipment issues led gainers.
