Japanese Yen Falls Against Dollar; USD Index Rises to 100.963 on July 10

According to Yonhap Infomax, on July 10 as of 4 p.m. ET, the dollar-yen exchange rate fell to 161.737 yen, down 0.667 yen (0.411%) from the previous New York close of 162.404 yen. The U.S. dollar index (DXY) rose slightly to 100.963, up 0.010 points (0.010%).

The yen faced downward pressure following remarks by Japanese Finance Minister Katayama Satsuki, who emphasized expanding domestic asset investments by Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund. Rising U.S. Treasury yields also supported dollar strength, as markets anticipated reduced GPIF allocation to overseas assets.