In the Tokyo foreign exchange market at noon on the 20th, dollar-yen was in the mid-¥158 range and struggled to rise as gains in U.S. long-term Treasury yields and crude oil futures in after-hours trading paused. The noon rate was ¥158.46–¥158.47, with the dollar up ¥0.31 against the yen from the previous day.
In the Tokyo market on the morning of the 20th, dollar-yen traded in the mid-¥158 range, with the noon rate reported at ¥158.46–¥158.47. In overseas markets the previous night, WTI crude oil futures and U.S. long-term Treasury yields continued to rise, prompting dollar buying and lifting the range from around ¥158 to the mid-¥158 range. Market participants said supply and demand were not significantly skewed around the fixing announcement and viewed the balance as limited.
After the fixing announcement, profit-taking and adjustment-related selling prevailed, and dollar-yen temporarily fell to around ¥158.40. Overall, the pair remained range-bound in a narrow range around the mid-¥158 level. Gains in U.S. long-term Treasury yields and crude oil futures paused, capping the upside, but no clear direction toward a weaker dollar or stronger yen had emerged.
The euro traded firmer than at 9 a.m. At noon, it stood at ¥177.90–¥177.91 against the yen and $1.1226–$1.1227 against the dollar. Many market participants said the overall market was waiting for fresh catalysts.