Dollar-yen lacked direction in the Tokyo market on the afternoon of the 29th, standing at ¥157.35 as of 3 p.m. The pair fell during the day before recovering, while the rise in long-term US interest rates and the decline in the Nikkei 225 also influenced trading.
Dollar-yen lacked direction in the Tokyo foreign exchange market on the afternoon of the 29th, standing at ¥157.35 as of 3 p.m., almost unchanged from noon. It fell to ¥157.21 in the afternoon, but the move proved temporary, and there was also a bout of recovery to around ¥157.55.
Amid the rise in long-term US interest rates, dollar-yen did not make a significant move into the first half of the ¥155 range, while the Nikkei 225 at one point recorded a decline of nearly ¥1,200. Euro-dollar traded lower at $1.1357, down approximately $0.0011, reflecting euro weakness.
Euro-yen remained under pressure, standing at ¥178.70 as of 3 p.m. The rebound was limited to around ¥179, and the pair continued to trend lower in line with euro-dollar. Australian dollar-yen rose temporarily to ¥110.70 following the RBA's decision to raise interest rates by 0.25%, but subsequently fell to ¥109.83 after remarks by an RBA official.
The reference ranges so far today were reported as ¥157.21–¥157.58 for dollar-yen, $1.1355–$1.1374 for euro-dollar and ¥178.66–¥179.13 for euro-yen.