In the New York market on the 16th, dollar-yen remained firm in the low ¥158 range. Dollar buying advanced as US long-term yields rose, while the euro was soft and euro-yen was at times supported.
In the New York foreign exchange market on the 16th, dollar-yen was at ¥158.24 as of 2 a.m., around ¥0.33 higher for the dollar than the ¥157.91 level at midnight the previous day. The rise in the US 10-year Treasury yield to just below 5.13% prompted yen selling and dollar buying.
In the early part of the session, the dollar briefly reached ¥158.34, at one point approaching the previous day's high of ¥158.35. As of 8 a.m., it traded in a range of ¥157.96 to ¥158.06, with dollar buying becoming dominant in the afternoon.
The euro was soft against the dollar, falling to $1.1220 per euro as of 2 a.m. Euro-yen fell to ¥177.55, but downside was limited as the rise in dollar-yen provided support. Euro-dollar traded around $1.1220.
The reference ranges on the 16th were ¥157.70 to ¥158.34 for dollar-yen, $1.1208 to $1.1269 for euro-dollar, and ¥177.15 to ¥177.97 for euro-yen. On the previous day, the 15th, dollar-yen moved little, while US long-term yields briefly fell to the 5.03% range.