The Japanese Yen weakened against the US dollar, with the USD/JPY exchange rate closing near 158.60, marking its highest closing level since September 24. This movement occurred during Japan’s Health and Sports Day holiday and a simultaneous closure of the US government bond market for Columbus Day, according to FX Street.
Meanwhile, Brent crude oil prices climbed above $107 per barrel on Monday, reflecting broader market dynamics as key financial centers observed holidays. FX Street noted that these price movements coincided with the reduced market activity linked to the holidays.
For Japanese investors and traders, the combination of limited domestic market activity and US bond market closure may have contributed to the Yen's depreciation, highlighting the influence of international holidays on FX liquidity and volatility.