USD/JPY edged higher in the Tokyo market, rising to ¥157.66. Crude oil prices remained under pressure but showed signs of holding firm, while movement was limited.
In the Tokyo market at 10:47 JST, USD/JPY was slightly higher, with the dollar rising to around ¥157.66. During the trading session, the exchange rate appeared to break out of its range, but no particularly sharp developments were seen.
Crude oil prices showed signs of holding firm against further declines, with selling pressure contained. Changes in market participants’ risk appetite and calmer supply-demand conditions have been cited as possible factors.
The day’s moves remained limited to localized activity in the foreign-exchange market, and some market participants believe that short-term factors are mixed in strength. Attention is expected to remain focused on developments in the foreign-exchange and energy markets.