In European trading, dollar-yen has made only a limited rebound from around ¥156.50, with yen buying on concerns over coordinated intervention by Japan and the United States weighing on the dollar. Oil prices and US long-term yields remain on an upward trend, and dollar buying may continue.
In European trading, dollar-yen has made only a limited rebound from around ¥156.50 and remains some distance below the day's high of ¥157.85. Both oil prices and US long-term yields remain on an upward trend, creating an environment conducive to dollar buying.
Against this backdrop, dollar-yen remained in a range up to around ¥157.23, while euro-yen stayed flat between ¥178.19 and ¥178.99 and euro-dollar between 1.1366 and 1.1390.
Market concerns over coordinated intervention by Japan and the United States have intensified, fueling speculation that this is encouraging yen buying and weighing on the dollar.