USD/JPY continued to trade in the ¥154 range in the Tokyo market, while the momentum behind dollar buying paused. WTI is around $103 per barrel, and US long-term yields have risen to the 4.9% range.
USD/JPY was subdued in the Tokyo market on the afternoon of the 11th, continuing to trade around ¥154.30. The trading ranges were ¥154.21 to ¥154.61 for USD/JPY, ¥179.14 to ¥179.54 for EUR/JPY, and $1.1605 to $1.1617 for EUR/USD.
Expectations for stabilization in the Middle East situation have receded sharply, sending NYMEX WTI crude oil futures into the $103-per-barrel range. US long-term yields have risen to the 4.9% range, although some market participants believe the rise has currently paused.