In the Tokyo market on the morning of the 28th, USD/JPY saw buying back and rose to the upper ¥158 range. The move was reportedly supported by the reaction to last week's efforts to curb yen weakness and elevated US long-term interest rates.
In the Tokyo foreign exchange market on the morning of the 28th, USD/JPY rose from ¥158.34 to ¥158.92 and traded firmly. Buying back reportedly led the move as the dollar recovered after falling under pressure from yen weakness the previous week.
At the same time, EUR/JPY formed a range of ¥180.09–¥180.76, while EUR/USD traded between $1.1369 and $1.1382. Elevated US long-term interest rates were cited as a factor supporting the dollar.
Market attention was focused on comments from officials at the Bank of Japan's Monetary Policy Meeting and views on the direction of policy operations going forward. The year-on-year increase of 3.7% in Japan's corporate services price index was also cited among the economic indicators for August.