In European foreign exchange trading, dollar-yen edged higher into the low ¥159s. Expectations of dollar buying spread ahead of the Fed chair's speech, while firm crude oil prices and US long-term interest rates also provided support.
Dollar-yen edged higher in European trading, extending its gains to ¥159.69. With Fed Chair Warsh's speech approaching, dollar buying prevailed amid expectations of a tighter policy stance. Firm crude oil prices and US long-term interest rates also supported dollar-buying pressure.
The trading ranges so far were ¥159.50 to ¥159.69 for dollar-yen, ¥185.75 to ¥185.89 for euro-yen, and $1.1639 to $1.1643 for euro-dollar.