In European trading, dollar-yen temporarily found support, trading in the ¥156.40 range after falling to the low ¥156s. Expectations that the Bank of Japan will accelerate the pace of rate hikes have been cited as a background factor, while major currencies continued to trade with the yen on an appreciating trend.
In European trading, dollar-yen temporarily fell to ¥156.17, but subsequently settled into trading in the ¥156.40 range. Euro-yen traded in a range of ¥181.26 to ¥182.30.
Expectations that the Bank of Japan will accelerate the pace of rate hikes have been cited as a background factor in the day's moves. Although the dollar has also seen some rebound buying on oil prices and US long-term yields, its rebound against the yen has been limited.
During the session, dollar-yen moved within a ¥156.17–¥157.12 range, euro-yen within a ¥181.26–¥182.30 range, and euro-dollar within a $1.1599–$1.1612 range.