USD/JPY rebound remains limited as dollar selling pauses | FX and currency news

USD/JPY remained sluggish in European trading, while dollar selling paused. The reported trading ranges were 157.61 to 158.29 for USD/JPY and 179.50 to 180.29 for EUR/JPY.

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The story

USD/JPY remained sluggish in European trading, while dollar selling paused. The current ranges were 157.61 to 158.29 for USD/JPY and 179.50 to 180.29 for EUR/JPY.

The dollar showed signs of holding firm against the backdrop of movements in U.S. long-term interest rates and crude oil prices, while continued yen buying limited the rebounds of major currencies. EUR/USD also traded in a range of 1.1387 to 1.1400.

Reports of remarks by U.S. President Trump warning against yen depreciation prompted expectations that yen buying would continue. The trading ranges to date were summarized as 157.61 to 158.29 for USD/JPY, 179.50 to 180.29 for EUR/JPY, and 1.1387 to 1.1400 for EUR/USD.

At a glance

Trading statusUSD/JPY traded in a range of 157.61 to 158.29

Trading statusEUR/JPY traded in a range of 179.50 to 180.29

Foreign ExchangeEUR/USD ranged from 1.1387 to 1.1400

FactorsBuying of the yen continued amid President Trump's warnings against yen depreciation

SituationDollar selling paused in European trading, while the rebound remained limited

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