In the Tokyo market on the morning of the 12th, dollar-yen resisted a decline as dollar selling led trading early on amid thin trading due to the market holiday. The pair fell from ¥158.40 to ¥158.07, but dollar selling subsequently paused as long-term interest rates were expected to remain high amid expectations for tighter US monetary policy.
The Tokyo market saw thin trading due to the market holiday, and dollar selling led trading early on, with dollar-yen moving in the upper ¥158 range.
However, dollar selling paused as expectations for tighter US monetary policy strengthened and the long-term interest rate was expected to remain high.
The day's trading ranges were ¥158.07-¥158.40 for dollar-yen, ¥177.18-¥177.35 for euro-yen and $1.1193-$1.1217 for euro-dollar.