In the Tokyo market on the afternoon of the 21st, USD/JPY edged lower and continued to trade in a narrow range in the lower half of the ¥158 range. The trading ranges were ¥158.03–¥158.39 for USD/JPY, ¥177.44–¥177.88 for EUR/JPY and 1.1223–1.1236 for EUR/USD.
In the Tokyo market on the afternoon of the 21st, USD/JPY edged lower, with downward pressure toward the lower ¥158 range. The 10-year US Treasury yield and crude oil prices temporarily slowed their advances but remained at high levels, keeping conditions favorable for buying the dollar.
Major currencies weakened against the dollar and also traded softly against the yen. USD/JPY was dragged lower by the cross-yen pairs, while limiting the size of its decline as it moved below the surrounding levels.
During the day, USD/JPY traded between ¥158.03 and ¥158.39, EUR/JPY between ¥177.44 and ¥177.88, and EUR/USD between 1.1223 and 1.1236.
Market trends appear to be influenced not only by specific factors but also by the continued effects of overall commodity-market levels and US interest-rate movements.