In the New York market on the 28th, USD/JPY edged higher, closing at ¥157.39. Dollar buying led the market against a backdrop of higher WTI crude oil prices and US long-term interest rates, but gains were capped by remarks from Japanese and US officials aimed at restraining yen weakness. The euro fell against the dollar, while EUR/JPY remained on a downward trend.
In the New York foreign exchange market on the 28th, USD/JPY edged higher, closing at ¥157.39, approximately 11 sen above the previous New York close of ¥157.28. Against a backdrop of higher WTI crude oil futures, the US 10-year Treasury yield, regarded as a benchmark for US long-term interest rates, briefly reached around 5.2719%, its highest level since June 2007.
USD/JPY recovered to around ¥157.58 shortly after midnight, but failed to pursue gains rapidly as successive remarks from senior Japanese and US government officials warned against further yen weakness. According to reports, WTI lost momentum and the US 10-year Treasury yield narrowed its rise after reports emerged that President Trump had referred to easing through concrete measures concerning Iran's nuclear development program.
EUR/USD fell back, closing at $1.1371. Euro selling and dollar buying led the market against a backdrop of higher US long-term interest rates, but the decline was limited by euro-buying flows related to month-end and quarter-end fixing.
EUR/JPY continued to fall, closing at ¥178.96. The pair moved sideways just after the New York market opened, but euro buying related to the London fixing was observed, and it recovered somewhat toward the end of the session.