USD/JPY held in a range around ¥158. Movements in US long-term interest rates and political and fiscal uncertainty in France drew attention as market factors.
USD/JPY rose to around ¥158.50 at one point against a backdrop of higher US long-term interest rates, but softened to around ¥157.85 as the yen was bought against the euro amid political and fiscal uncertainty in France. The market moved between these factors, but did not break out of its range.
The latest factors cited are political and fiscal uncertainty in France, which is said to be affecting USD/JPY movements. Reports indicate that the market continues to lack a clear trigger.
The English summary states that USD/JPY has traded around the ¥158 range over the past five days, against a backdrop of a continued lack of clear market drivers. Market attention to French government bonds and developments in the euro is helping to keep the market anchored.