Dollar buying pauses; USD/JPY falls below ¥158 in London trading

The story

During the London midday period, as dollar buying lost momentum, NY crude oil futures edged down from the upper $92 range to the upper $91 range. The U.S. 10-year Treasury yield declined from its peak of 5.34% to the 5.27% range.

Dollar-yen encountered resistance after reaching a high of 158.45 and recently retreated below 158. EUR/USD hit a low of 1.1266 and has now recovered to the 1.13 range.

The text gives recent readings of 157.93 for USD/JPY and 1.1301 for EUR/USD, suggesting that the market may be continuing to move toward a weaker dollar and stronger yen.

At a glance

Dollar-yenLatest reading: 157.93; currently around the 157–158 range

HighRetreated after reaching the 158.45 level

Reasons for the declineDollar-yen retreats below 158 as London midday dollar buying pauses

EUR/USD1.1301 is the latest trading range

Euro lowRecovered to the 1.13 range after reaching 1.1266

Asset trendsNY crude oil fell from the upper ¥92 range to the upper ¥91 range; U.S. 10-year Treasury yield declined from 5.34% to the 5.27% range

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