Tokyo foreign exchange: Dollar-yen rebounds, recovers the ¥158 level (FISCO)

The story

Dollar-yen rebounded in the Tokyo market as of 9:32 a.m. The dollar initially sold off after the Federal Open Market Committee (FOMC) left its policy rate unchanged, falling to ¥157.70, but short covering then intensified, lifting it back above ¥158 to ¥158.07.

Today's trading ranges were ¥157.70–¥158.07 for dollar-yen, ¥175.94–¥176.15 for euro-yen, and 1.1134–1.1161 for euro-dollar. Attention is focused on the yen's direction ahead of the Bank of Japan's Monetary Policy Meeting.

At a glance

Currency pairDollar-yen recovered to ¥158.07.

StatusReport released at 9:32 a.m.

TrendThe dollar initially sold off after the FOMC, then rebounded on short covering.

RangeDollar-yen: ¥157.70–¥158.07; euro-yen: ¥175.94–¥176.15; euro-dollar: 1.1134–1.1161

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