Dollar-yen edged higher in Tokyo trading on 18 August. Against a backdrop of turmoil in the Middle East, higher oil prices and rising long-term interest rates, the pair gained on dollar buying.
In Tokyo trading on the 18th, dollar-yen followed an upward trend from 159.31 to 159.77. The turmoil in the Middle East, along with movements in oil prices and rising US long-term interest rates, was seen as prompting dollar buying. Although there was caution over currency intervention, dollar buying was stronger at times toward evening.
The day's trading ranges were reported as 159.31-159.77 for dollar-yen, 184.52-184.86 for euro-yen and 1.1567-1.1585 for euro-dollar. Market movements were influenced by oil prices and interest rates, with dollar buying leading at times.