Yen near 32-year low around 149 line vs. dollar, intervention eyed

The yen remained weak near a 32-year low around the 149 line against the U.S. dollar early Tuesday in Tokyo, with investors vigilant about a possible yen-buying intervention by Japanese monetary authorities.

Selling of the yen continued after U.S. President Joe Biden said Saturday he was "not concerned" about the strength of the dollar against other major currencies.

At 9 a.m., the dollar fetched 148.96-99 yen compared with 148.97-149.07 yen in New York and 148.64-65 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $0.9844-9845 and 146.64-68 yen against $0.9838-9848 and 146.61-71 yen in New York and $0.9747-9748 and 144.88-92 yen in Tokyo late Monday afternoon.

Tokyo stocks opened higher, tracking sharp overnight gains on Wall Street.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 387.70 points, or 1.45 percent, from Monday to 27,163.49. The broader Topix index was up 23.00 points, or 1.22 percent, at 1,902.56.

On the top-tier Prime Market, gainers were led by insurance, precision instrument, and service issues.

© Kyodo News