In the Tokyo market on the afternoon of 22 September, dollar-yen consolidated near its highs and was recently trading around ¥157.50. Meanwhile, dollar buying has eased against a backdrop of lower crude oil prices and declining U.S. long-term yields, with major currencies trending higher against the dollar.
In the Tokyo market on the afternoon of 22 September, dollar-yen consolidated near its highs, trading in a range of ¥157.29 to ¥157.56. It was recently steady around ¥157.50.
The market appears somewhat inclined to sell the yen amid concerns over Japan’s fiscal management, but dollar-buying momentum has weakened as crude oil prices fall and U.S. long-term yields decline.
Among the main movements aside from dollar-yen, euro-yen traded between ¥180.34 and ¥180.63, while euro-dollar was at 1.1462–1.1471.