In the London morning foreign exchange market, USD/JPY rose as high as 159.65 yen, reaching its highest level since 18 August. Cross-yen pairs moved toward a weaker yen, with EUR/JPY reaching 185.88 yen and GBP/JPY reaching 216.88 yen.
In the London morning session, USD/JPY rose as high as 159.65, setting a new intraday high and reaching its highest dollar-strength and yen-weakness level since 18 August. EUR/JPY and GBP/JPY also set new highs at 185.88 and 216.88, respectively.
Cross-yen pairs generally moved toward a weaker yen, while dollar-based pairs moved slightly toward a stronger dollar. EUR/USD extended its decline marginally to around 1.1642, while other currency pairs also moved only slightly.
European stocks were firm, with France's CAC index up more than 1%. The US 10-year Treasury yield remained in the 4.68% range, while NY crude oil futures were relatively steady at around $83.
With a speech by US Federal Reserve Chair Waller at Jackson Hole approaching, adjustment-driven price movements appear to be continuing amid a lack of fresh market catalysts. USD/JPY was trading around 159.63, EUR/JPY around 185.86, GBP/JPY around 216.84, EUR/USD around 1.1643 and GBP/USD around 1.3584.