Dollar-yen remained little changed in the Tokyo market on the morning of the 22nd, trading in a narrow range in the ¥157 area. Reports of a Bank of Japan rate check heightened intervention concerns, while activity remained subdued overall.
Dollar-yen was little changed in the Tokyo market on the morning of the 22nd, continuing to trade in a narrow range around ¥157.30. Activity was broadly subdued with Tokyo closed, and market cues were scarce.
The trading ranges so far were ¥157.29 to ¥157.42 for dollar-yen, ¥180.34 to ¥180.48 for euro-yen, and 1.1462 to 1.1468 for euro-dollar.
While concerns about currency intervention remain strong following reports of a Bank of Japan rate check, pressure to sell the yen persists amid concerns over Japan's fiscal management.