USD/JPY was slightly firmer in the Tokyo foreign exchange market, with risk-on yen selling prevailing. The Nikkei 225 also remained in positive territory in afternoon trading.
Although selling was prominent in the Nikkei 225 in the morning, the index recovered into positive territory after the morning close and showed further strength in the afternoon. Yen selling advanced as risk tolerance increased across the market.
In related currency markets, USD/JPY remained firm and cross-yen pairs were also bought. Yen weakness supported the market during the risk-on phase of local trading hours.
USD/JPY traded at around ¥159.34 at its highest level of the day, while dollar buying and yen selling continued to be observed in the foreign exchange market.