The dollar-yen rate rebounded in the Tokyo market on the morning of the 23rd as the momentum behind yen buying eased. http://(omitted) The rate recovered to the ¥156.40 range. The afternoon direction remains uncertain, although the impact of the previous day's decline in long-term US yields was also visible.
In the Tokyo market on the morning of the 23rd, risk-averse yen buying led the dollar-yen rate down to ¥156.08. Heightened tensions in the Middle East and concerns over AI-related investment were cited as the background.
Yen buying then eased, and the rate had recovered to the ¥156.40 range. The day's trading range was ¥156.08 to ¥156.81 for dollar-yen, ¥175.20 to ¥175.90 for euro-yen, and $1.1211 to $1.1226 for euro-dollar.
The move was also believed to have been influenced by the sharp decline in long-term US yields the previous day, which capped the dollar's upside.