In Tokyo trading on the afternoon of the 7th, USD/JPY struggled to rise, with the rate at ¥158.35 as of 3 p.m. EUR/USD was around 1.1230, while EUR/JPY moved to around ¥177.83.
In the Tokyo foreign exchange market on the afternoon of the 7th, USD/JPY struggled to rise, standing at ¥158.35 as of 3 p.m., around 8 sen below the ¥158.43 level at noon. The 10-year US Treasury yield remains elevated at around 5.31%, but its impact on the market was limited. Answers to questions from party representatives regarding Prime Minister Takaichi's (高市) policy speech also failed to elicit any particular market reaction.
EUR/USD traded slightly lower, at $1.1230 as of 3 p.m., compared with $1.1236 at noon, a decline of around $0.0006. Against the backdrop of elevated long-term US interest rates, it extended its decline to $1.1224.
EUR/JPY was ¥177.83 as of 3 p.m., around 18 sen below the ¥178.01 level at noon. Following the dollar-yen pair's struggle to rise and the slight decline in EUR/USD, it fell as low as ¥177.77.
The reference range so far today is USD/JPY 158.10–158.51, EUR/USD 1.1224–1.1263 and EUR/JPY 177.77–178.30.