In the New York market on the 6th, USD/JPY was ¥158.15 at 2:00, up ¥0.09 from midnight. It struggled to rise ahead of the European session high of ¥158.25, while San Francisco Fed President Daly suggested that additional tightening may be necessary.
In the New York foreign exchange market on the 6th, USD/JPY was ¥158.15 at 2:00, up about ¥0.09 from ¥158.06 at midnight. It struggled to rise ahead of the day's European-session high of ¥158.25 and traded range-bound mainly in the lower ¥158s.
EUR/USD traded around $1.1257 and remained firm in the mid-$1.12 range as the decline in US long-term yields paused. EUR/JPY was ¥178.04 at 2:00, up about ¥0.11 against the euro from midnight, but its movement was limited against the backdrop of USD/JPY's firmness.
The reference ranges through today were ¥157.77–¥158.25 for USD/JPY, $1.1203–$1.1277 for EUR/USD, and ¥177.03–¥178.34 for EUR/JPY. Expectations of additional tightening, against the backdrop of comments from the San Francisco Fed president Daly, remain a focus for the market.