In European markets, dollar-yen traded around the mid-¥159 range, briefly moved into the 160 range, and then retreated. Expectations that long-term US Treasury yields will remain elevated have revived speculation about another move toward the 160 range.
In European markets, dollar-yen traded in the ¥159.82–95 range, briefly rose into the ¥160.10 range during the day, and then returned to the lower ¥159 range. Intervention concerns constrained market movements.
Views are spreading that long-term US Treasury yields will remain elevated, keeping the dollar firm while prompting another attempt to test the 160 range.