USD/JPY recovered in the ¥153 area in Tokyo trading on the afternoon of the 10th, with cross-yen pairs following suit. The US 10-year Treasury yield remained elevated, while supply-demand conditions for the dollar remained weak.
In Tokyo trading on the afternoon of the 10th, USD/JPY recovered to the ¥153.50 area, approaching the morning high of ¥153.74. The yen's upside was capped as buying of yen by Bank of Japan officials receded.
The day's intraday ranges were ¥153.28–¥153.74 for USD/JPY, ¥178.42–¥178.83 for EUR/JPY and 1.1629–1.1640 for EUR/USD.
The US 10-year Treasury yield remains elevated, and the dollar is expected to remain difficult to buy.