In European trading, dollar/yen temporarily fell below the ¥157 range to the mid-¥156 range before recovering to the ¥157 range. Yen buying on caution over coordinated Japan-US intervention paused, and major currencies moved to recover against the yen as crude oil prices and long-term US interest rates continued to trend higher, prompting dollar buying.
In European trading, dollar/yen moved between ¥156.50 and ¥157.23, with the exchange rate seen returning to the ¥157 range. The bout of yen buying prompted by caution over coordinated Japan-US intervention paused, and the dollar showed signs of recovering against the yen.
Euro/yen traded between ¥178.19 and ¥178.99, while euro/dollar moved between $1.1368 and $1.1390, with ranges for the major currency pairs also reported. Crude oil prices and long-term US interest rates maintained their upward trends, strengthening dollar-buying pressure in European trading.
The trading ranges to date were ¥156.50–¥157.23 for dollar/yen, ¥178.19–¥178.99 for euro/yen and $1.1368–$1.1390 for euro/dollar.