Dollar-yen remained firm in Tokyo trading on the afternoon of the 7th, holding near ¥158.40. Dollar buying continued against a backdrop of elevated U.S. long-term interest rates and a modest rise in crude oil prices.
In Tokyo trading on the afternoon of the 7th, dollar-yen remained near ¥158. Views that the Bank of Japan is taking a cautious stance on tightening notwithstanding, factors supporting dollar buying continued.
Elevated U.S. long-term interest rates and a modest rise in crude oil prices also supported the dollar. As a result, euro-dollar weakened to the ¥1.1220 area under the influence of dollar buying.
The day's trading ranges were ¥158.11 to ¥158.50 for dollar-yen, ¥177.88 to ¥178.30 for euro-yen, and ¥1.1228 to ¥1.1262 for euro-dollar.