In European trading, USD/JPY fell briefly to the mid-¥156 range before recovering to the ¥157 range. Dollar buying has continued against a backdrop of higher oil prices and rising long-term U.S. Treasury yields, and major currencies have been recovering against the yen.
In European trading, USD/JPY fell from ¥157.23 to ¥156.50 before recovering to the ¥157 range again. Yen buying on caution over coordinated intervention by Japan and the United States has paused, while major currencies have continued to recover against the yen.
The move is thought to be supported by continued upward trends in oil prices and long-term U.S. Treasury yields, which are sustaining dollar buying. As of the latest update, the trading ranges are ¥156.50–¥157.23 for USD/JPY, ¥178.19–¥178.99 for EUR/JPY, and $1.1368–$1.1390 for EUR/USD.
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