Dollar-yen traded slightly higher in the European market and rose back into the ¥158 range. Dollar buying resumed against a backdrop of rising long-term US yields, while the euro’s decline paused.
Dollar-yen held at slightly higher levels in European trading, rising back into the ¥158.20 range. It fell as low as ¥157.84 during the day, but resumed rising as dollar buying returned against a backdrop of higher US 10-year Treasury yields.
The trading ranges up to that point were ¥157.84-¥158.22 for dollar-yen, ¥176.54-¥177.23 for euro-yen and $1.1179-$1.1203 for euro-dollar. The euro’s downward momentum paused, but its rebound was limited.
This article summarises European market movements as of 18:16 JST. The dollar remains susceptible to movements in long-term US yields.