In Tokyo trading on the morning of the 9th, dollar-yen hovered around ¥158 in directionless trade, while moves in euro-yen and euro-dollar were limited. The US 10-year Treasury yield remained elevated despite softening, while NY crude oil futures slipped into the $90s.
In Tokyo trading on the morning of the 9th, dollar-yen was range-bound, with directionless moves around ¥158. The US 10-year Treasury yield softened but remained elevated, making the dollar difficult to sell. NY crude oil futures (WTI) slipped into the $90s per barrel, weakening demand for the dollar.
The trading ranges so far were ¥157.76 to ¥158.14 for dollar-yen, ¥176.98 to ¥177.51 for euro-yen, and $1.1210 to $1.1228 for euro-dollar.
In comments by a senior official, Prime Minister Takaichi (高市) said that interest rates and the foreign exchange market are determined by the market, adding that the government's response going forward would be closely watched.