In the Tokyo market on the 4th, USD/JPY struggled to gain, falling temporarily to 155.29 before rebounding to 156.44 on buybacks. In the afternoon, dollar buying receded amid a lack of market drivers, and trading remained range-bound near the highs.
In the Tokyo market on the 4th, USD/JPY struggled to gain and fell temporarily to 155.29. The move was driven by selling of the dollar amid waning expectations for an early rate hike by the Federal Reserve (FRB).
The dollar was subsequently bought back on perceptions that it was undervalued, recovering to 156.44. USD/JPY traded between 155.29 and 156.44, EUR/JPY between 180.62 and 181.82, and EUR/USD between 1.1622 and 1.1632.
In the afternoon, dollar buying receded again amid a lack of market drivers, and trading was range-bound near the highs. The source was reported as a Fisco report.