Dollar-yen was slightly higher in the Tokyo market, holding in the ¥158 range during the day. It fell to around ¥157.84 in the morning before buying returned, recovering to near ¥158.08 in the 9 a.m. hour.
Dollar-yen traded slightly higher in the Tokyo market around 9 a.m., with the day's range generally centered on the ¥158 level. It briefly fell to around ¥157.84 in the morning, but buying back the currency then prevailed.
The yen remained within a limited range into the afternoon amid a lack of major catalysts, continuing to hold in the ¥158 range. Market participants are watching recent US developments and changes in the US-Japan interest-rate differential.
The move was not large, and the market continued to swing back within the range of short-term movements. Unless a notable catalyst emerges, the market is expected to remain focused on the next catalyst.
The day's movement is viewed as a short-term development in the Tokyo market, with dollar-yen expected to trade around ¥158 for some time.