In the Tokyo market on the morning of the 20th, dollar-yen rose, temporarily reaching ¥158.60 and exceeding the previous day's high. It subsequently returned to the ¥158.50 range.
In the Tokyo market on the 20th, dollar-yen rose as buying was prompted by the widening Japan-US interest-rate differential. It temporarily climbed to ¥158.60, exceeding the previous day's high.
Trading subsequently settled, and dollar-yen returned to the ¥158.50 range. Euro-yen moved from the upper ¥176 range to the low ¥177 range, while euro-dollar traded in the 1.1208–1.1215 range.
The US 10-year Treasury yield rose to 5.14%, while Japan's fell to 2.90%. The widening yield differential is believed to have prompted dollar buying.
Higher oil prices were also cited as a factor that could support the dollar.