In the New York market on the 6th, USD/JPY moved narrowly in the lower ¥158s, while the euro held near its highs as concerns over French public finances receded. The Nikkei rose steadily in Tokyo trading, with the direction of US long-term interest rates remaining a key focus.
In the New York foreign exchange market on the 6th, USD/JPY fluctuated narrowly in the lower ¥158s, while EUR/USD held near its highs after a round of euro buying prompted by easing concerns over French debt had run its course. EUR/JPY traded around ¥178.
In Tokyo trading, USD/JPY recovered into the ¥158 range, and the Nikkei Stock Average ended up ¥737. The direction of US long-term interest rates remains a key focus for the markets.
Looking back at the day's moves, USD/JPY stood at ¥158.12 at 4 a.m., trading about ¥0.03 lower than the ¥158.15 level at 2 a.m. EUR/USD was at $1.1261 and EUR/JPY at ¥178.05, both little changed.
In afternoon New York trading, USD/JPY briefly fell to around ¥157.92 before moving higher from its lows. EUR/USD reached a high of $1.1277, but gains were capped depending on the direction of US long-term interest rates. EUR/JPY pulled back to around ¥177.74 after reaching a high of ¥178.34.