In the London foreign exchange market, dollar-yen was trading around the mid-¥158 range and euro-dollar around 1.1225. Higher crude oil prices and rising U.S. Treasury yields created buying pressure on the dollar, while gains in cross-yen pairs were capped.
In early London trading, dollar-yen was around 158.35 and euro-dollar around 1.1225. The early-Tokyo low was around 158.10 for dollar-yen, while the high rose to around 158.51 toward the fixing, before there was a period of decline to the 158.20 range in the early London session.
Higher crude oil prices and rising U.S. Treasury yields are supporting the dollar, while cross-yen pairs face resistance and the yen's decline is being contained. Euro-dollar softened after reaching an early-Tokyo high of around 1.1263 and is currently updating its low around 1.1222.
The euro was soft against sterling. Dollar-yen is expected to remain firm while reflecting developments in the early London session. USD/JPY was quoted at 158.37 and EUR/USD at 1.1225.