Dollar-yen moved narrowly in the upper ¥159 range on Tuesday morning in Tokyo. As crude oil prices resumed their rise amid the military conflict between the United States and Iran, Japan’s long-term government bond yield rose to around 3.00%, but the yen showed no notable reaction.
Dollar-yen moved narrowly in the upper ¥159 range on Tuesday morning in Tokyo, while Japan’s long-term government bond yield rose to around 3.00% as crude oil prices resumed their rise. Government bond prices continued to trend lower, while the market showed no clear direction.
Euro-yen traded in the mid-¥185 range and pound-yen in the mid-¥216 range, with limited activity. Australian dollar-yen strengthened to around ¥114.68, but trading activity remained subdued overall.
The U.S. long-term Treasury yield rose to around 4.78%, its highest level since 2025, but there was no dollar buying and the dollar market’s reaction was muted.
Overall, selling continued in the Japanese and U.S. government bond markets, but the foreign exchange market saw no major moves, with activity in the major currency pairs remaining limited, according to reports.