Dollar-yen rose briefly into the ¥159 range during New York trading. A rebound in crude oil prices and rising US Treasury yields supported the dollar, with the pair moving toward ¥160.
Dollar-yen continued to push higher and rose briefly into the ¥159 range. The 200-day moving average is around the mid-¥158 range, but the pair broke decisively above that level today.
A rebound in crude oil prices and renewed gains in US 10-year Treasury yields supported dollar-yen, with the 10-year yield rising briefly to around 5.16%. This points to the possibility of a move toward ¥160, although concerns about intervention are also expected to intensify.
The currency pairs were trading at levels of 158.93 for USD/JPY, 180.72 for EUR/JPY, 210.01 for GBP/JPY and 111.41 for AUD/JPY.
The report was written by Nozawa Takumi (野沢卓美) of MINKABU PRESS as a flash report on developments in the New York market.