In Tokyo foreign exchange trading on the afternoon of the 18th, the dollar rose to the high ¥159 range, gaining 71 sen from the previous day. Rising US long-term yields provided support in the afternoon.
In Tokyo trading on the afternoon of the 18th, the dollar rose against the yen to around ¥159.66, supported by a rise in US long-term yields in off-hours trading, gaining 71 sen from the previous day. Buying by real-demand accounts led the market in the morning.
In overseas trading the previous day, the dollar gradually rose from the ¥158.80 range to around ¥159.60 as crude oil futures and US long-term yields climbed. In the afternoon, rising US yields helped push the dollar to a higher level.
Crude oil prices remain elevated amid uncertainty over the situation in the Middle East, while US long-term yields are trending higher in off-hours trading. Against this backdrop, some market participants believe that safe-haven buying of the dollar against the yen is prevailing, but selling into rallies is intensifying near ¥160. Movements in crude oil prices and US yields are expected to continue influencing the dollar-yen rate.
Against the euro, the dollar traded in the low ¥184 range in the afternoon; at ¥184.77-78 per euro against the dollar and at 1.1574-1574 dollars per dollar.