The dollar-yen rate in the New York market held firm in the mid-¥158 range. A rebound in US long-term yields and a narrowing decline in the Dow supported dollar buying and yen selling, while the euro-yen rate hit a new high.
In the New York market on the 3rd, dollar-yen stood at ¥158.51 as of 2 a.m., about 24 sen higher than ¥158.27 at the previous reference time, holding in the mid-¥158 range. It rose as high as ¥158.61 during the day, but buying momentum showed signs of running out.
Movements in US long-term yields guided the dollar, and the US 10-year Treasury yield recovered to the 4.95% range. In the stock market, the Dow's decline narrowed, prompting dollar buying and yen selling as risk aversion eased.
Euro-yen rose to ¥177.40, setting a new high since 22 October. Euro-dollar was range-bound at 1.1192. It fell as low as 1.1175 but did not set a new low.
The major ranges through today are dollar-yen ¥157.75-¥158.61, euro-dollar 1.1175-1.1207 and euro-yen ¥176.52-¥177.43.