The dollar-yen rate edged higher in Tokyo trading on the afternoon of the 23rd, rising to ¥157.71. Euro-yen softened toward the low ¥180s, while euro-dollar traded in a range of $1.1422 to $1.1449. Expectations of additional US rate hikes have been cited as a factor.
The dollar-yen rate edged higher in Tokyo trading on the afternoon of the 23rd, reaching as high as ¥157.71. Market participants cited expectations of additional US rate hikes as a factor encouraging dollar buying.
Meanwhile, euro-yen softened toward the low ¥180s, while euro-dollar traded in a range of $1.1422 to $1.1449. The trading ranges were ¥157.35 to ¥157.71 for dollar-yen, ¥180.02 to ¥180.38 for euro-yen, and 1.1422 to 1.1449 for euro-dollar.