On the 9th, USD/JPY edged up in Tokyo from the upper ¥157 range to around ¥158. The dollar was supported by moves reflecting U.S. long-term interest rates, while lower oil prices capped its upside.
In Tokyo on the 9th, USD/JPY rose from ¥157.90 to ¥158.12. Dollar buying was somewhat stronger against a backdrop of a modest rise in U.S. long-term interest rates, but soft oil prices capped the dollar's upside, leaving the major currencies struggling to gain ground.
In the New York market that night, USD/JPY faced resistance on the upside. Although the U.S. 10-year Treasury yield rose to the 4.88% level, dollar selling continued, pushing the pair back from around ¥158 into the ¥157 range toward the close. The euro edged higher against the dollar, while EUR/JPY traded in a narrow range in the low ¥177s.
Today's ranges were ¥157.90–¥158.12 for USD/JPY, ¥177.20–¥177.42 for EUR/JPY and $1.1216–$1.1226 for EUR/USD in Tokyo. In New York, the ranges were ¥157.85–¥158.53 for USD/JPY, ¥176.29–¥177.13 for EUR/JPY and $1.1137–$1.1205 for EUR/USD.