In the Tokyo foreign exchange market on the 21st, dollar-yen trading was range-bound in the low ¥158 range late in the session and lacked direction during the day. The dollar was slightly higher against the yen, influenced by movements in long-term US Treasury yields and oil prices amid a lack of market drivers.
In the Tokyo foreign exchange market on the 21st, the dollar traded against the yen in the low ¥158 range late in the session amid a lack of market drivers. Movements remained within a range from the morning, with no clear direction.
As of 5:00 p.m., the dollar was at ¥158.12–14, up 04 sen from ¥158.08–08 at 5:00 p.m. the previous day, marking a slight dollar gain and yen decline.
In overseas markets the previous day, the dollar traded between the ¥158.00 and ¥158.20 levels during European hours. It fell to the ¥157.80 level early in US trading amid weak housing-start figures, lower oil prices and declining long-term yields, but was bought back into the ¥158 range from mid-session onward as oil prices and long-term yields rose.
The dollar remained broadly at the same level in early Tokyo trading. It briefly rose to around ¥158.40 after 9:00 a.m. as real-money buying emerged and long-term US Treasury yields rose in after-hours trading. After that buying subsided, profit-taking sales pushed it down to the ¥158.20 level. In the afternoon, it fell to near ¥158 as the rise in long-term yields paused, then recovered somewhat toward 3:00 p.m. Late in the session, it lacked momentum around ¥158.10.
The euro was range-bound against both the yen and the dollar late in the session, at ¥177.50–51 per euro and $1.1225–1.1225 against the dollar.