In Japanese markets on the 16th, the yen fell to the low ¥155s against the dollar. Dollar buying and yen selling prevailed against a backdrop of higher crude oil prices and rising U.S. long-term yields, while ultra-long-term yields were also reported to be rising.
In Japanese markets on the 16th, the yen fell to the low ¥155s against the dollar, with continued gains in crude oil prices and rising U.S. long-term yields cited as the backdrop. As markets continue to assess monetary conditions in Japan and the United States, equities remained soft, although the TOPIX rebounded.
U.S. long-term yields reached the 5% range, their highest level since 2007, while Japan's 20-year and 30-year ultra-long-term yields rose on domestic inflation concerns. With monetary policy decisions ahead, a wait-and-see mood is strengthening across markets.