Tokyo FX: USD/JPY falls to ¥158.71

In the Tokyo market on the morning of the 24th, USD/JPY fell to ¥158.71 before trading around ¥158.00. During the day, it briefly rose to ¥159.00 before resuming its downward trend.

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The story

In the Tokyo market on the morning of the 24th, USD/JPY briefly fell to ¥158.85, then gradually moved higher to ¥159.00. It subsequently turned lower and is currently trading around ¥158.73.

EUR/JPY traded in the lower ¥185 range and is currently around ¥185.49. EUR/USD moved between 1.1672 and 1.1687 and continues to trade near its high.

The trading ranges were ¥158.71-159.00 for USD/JPY, ¥185.44-185.66 for EUR/JPY and 1.1672-1.1687 for EUR/USD.

While dollar weakness was pronounced in this move, the yen strengthened against the dollar, and volatility risk across the market, particularly in USD/JPY, came into focus.

At a glance

Dollar-yen rate¥158.71 near the low, rising to ¥159.00 during the day

RangeUSD/JPY range: ¥158.71-159.00

European developmentsEUR/JPY ¥185.44-185.66, EUR/USD 1.1672-1.1687

TimingTokyo market on the morning of the 24th

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