Yen selling led trading in the London market, with dollar-yen approaching ¥159. Euro-yen reached the mid-¥183 range, while pound-yen renewed its high in the lower ¥214 range.
Yen weakness prevailed in the London market, with dollar-yen approaching ¥159 after trading in the upper ¥158 range. The yen-selling trend is re-emerging as the market recouples some of the move following the previous day's U.S. employment-related indicators.
Euro-yen extended its high to the mid-¥183 range, while pound-yen rose to the lower ¥214 range, with cross-yen pairs generally firm.
Factors cited as a backdrop include the rebound from the shock of intervention speculation, the structural strength of yen-selling carry trades, and resilient U.S. interest rates, while dollar crosses remained subdued.
Apart from dollar-yen, euro-dollar traded in a 1.1548–1.1567 range and pound-dollar in a 1.3483–1.3507 range. NY crude oil traded in the mid-$79 range, while the 10-year U.S. Treasury yield was flat around 4.65%.