Dollar-yen showed a limited rebound in the afternoon session in the Tokyo market on the 8th, after falling from ¥154.37 to ¥152.88 in the morning before edging higher. Expectations of an acceleration in the Bank of Japan's monetary tightening and unwinding of previous yen-selling positions are fueling caution over yen buying.
Dollar-yen showed a limited rebound in the afternoon session in the Tokyo market on the 8th. It fell sharply from ¥154.37 to ¥152.88 during the morning.
The pair edged higher thereafter, but expectations of an acceleration in the Bank of Japan's monetary tightening and unwinding of yen-selling positions are seen as potential drivers of yen buying. Major currencies posted limited rebounds against the yen.
The trading ranges so far were ¥152.88–¥154.37 for dollar-yen, ¥177.86–¥179.44 for euro-yen and $1.1623–$1.1634 for euro-dollar.