USD/JPY maintained its upward trend in the Tokyo market on the afternoon of the 28th, rising to the mid-¥159 range. NY crude oil futures were volatile around $83, while the U.S. 10-year Treasury yield edged higher.
In the Tokyo market on the afternoon of the 28th, USD/JPY maintained its upward trend, with the yen weakening. Buying interest from investors supported the dollar, and the market as a whole came under upward pressure.
USD/JPY was influenced by movements in NY crude oil futures around $83 per barrel, while it traded within a narrow range of ¥159.29 to ¥159.56.
EUR/JPY rose to the upper end of its range in tandem with USD/JPY, while EUR/USD traded broadly in a range of $1.1642 to $1.1655.
In the U.S. market, the 10-year Treasury yield’s modest rise helped encourage dollar buying, and there were periods when demand for the dollar increased further.
Overall, the volatility in crude oil prices and movements in bond yields supported the dollar’s firm tone, and major currency pairs in the Tokyo market remained near their highs.