Dollar-yen remained firm in European trading, and short-term traders expect dollar strength to continue. The trading ranges were ¥158.11-¥158.69 for dollar-yen, ¥180.22-¥180.52 for euro-yen and $1.1371-$1.1399 for euro-dollar. In the near term, the pair could break above ¥159 and rise into the low ¥160s.
Dollar-yen was firm in European trading, with continued buying pressure on the dollar. The trading range was ¥158.11 to ¥158.69 for dollar-yen, ¥180.22 to ¥180.52 for euro-yen and $1.1371 to $1.1399 for euro-dollar.
Short-term traders expect dollar strength to continue for the time being, against expectations of an early rate hike by the US Federal Reserve Board (FRB). They see dollar-yen breaking above ¥159 in the near term and rising into the low ¥160s.
This information is based on reporting by FISCO's stock and corporate reports and focuses primarily on conditions in the European foreign exchange market and the views of short-term traders.