Dollar-yen held near its high in European trading. The 10-year US Treasury yield rose to the 5.12% range on expectations of an early Fed rate hike, supporting the view that dollar buying will continue.
In European trading, dollar-yen continued to rise, reaching the day’s high of ¥158.80. Expectations of an early Fed rate hike are seen as the backdrop to the rise in long-term US interest rates, which is encouraging dollar buying.
Dollar-yen traded between ¥158.11 and ¥158.80, euro-yen between ¥180.22 and ¥180.61, and euro-dollar between $1.1361 and $1.1399.
At the same time, with ¥159 coming into view, some reports have highlighted the heaviness on the upside. Attention remains focused on developments ahead.