Dollar-yen rose to ¥158.61, with a sharp rise in crude oil futures supporting dollar buying. Although US markets are closed for Columbus Day, movements in crude oil during after-hours trading supported the market.
Dollar-yen rose to ¥158.61, and the dollar strengthened against the euro. The article states that the US bond market will be closed for Columbus Day, citing this as a factor supporting the dollar's firmness.
In after-hours trading, WTI crude oil futures rose to around $93, and market participants reportedly believe that higher crude oil prices are prompting dollar buying in response to inflationary pressure. The dollar continues to trade firmly against the yen.
The article reports on the relationship between crude oil futures and dollar-yen, and identifies crude oil and dollar trends as factors for readers to watch in assessing short-term movements in the foreign exchange market.