Dollar-yen held firm as of 10:00 a.m., while the stronger-than-expected Tokyo 23-ward CPI weighed on the pair. After temporarily falling to ¥157.79, it recovered, supported by movements in the US 10-year Treasury yield in after-hours trading.
In Tokyo trading on the 2nd, dollar-yen held firm at the lower end of its range, standing at ¥158.14 as of 10:00 a.m. It was slightly above the New York close of ¥158.09, while selling emerged after Tokyo's September consumer price index for the 23 wards rose 2.7% year on year, exceeding the forecast increase of 2.3%. Subsequently, after the initial reaction had run its course, dip-buying emerged against the backdrop of a slight rise in the US 10-year Treasury yield in after-hours trading, and the pair recovered to around ¥158.15 approaching the Tokyo fixing.
Euro-yen continued to resist a decline, standing at ¥177.65 as of 10:00 a.m. It was approximately ¥0.10 below the New York close of ¥177.75. In line with the yen's appreciation following the strong Tokyo inflation data, it temporarily fell to ¥177.40, but dollar-yen buying ahead of the Tokyo fixing limited the decline.
Euro-dollar stood at $1.1234 as of 10:00 a.m., approximately $0.0010 below the New York close of $1.1244. Expectations of further dollar appreciation pushed it down to $1.1234.
The reference ranges so far today were 157.79-158.18 for dollar-yen, 1.1234-1.1249 for euro-dollar, and 177.40-177.86 for euro-yen.