Dollar-Yen Holds Firm Amid Rising Oil Prices and US Yields

The dollar-yen pair held firm in the lower 159 range during European trading, supported by rising oil prices and U.S. yields.

NYMEX WTI crude futures climbed above $82 per barrel, driving inflation expectations higher and pushing U.S. long-term yields to a 4.66% range.

This shift in market sentiment has provided a tailwind for dollar buying, as the widening interest rate differentials between the U.S. and Japan have underpinned dollar-yen.

The euro-dollar dipped lower towards the 1.1650 level, with the Australian dollar also trading with a soft tone against the dollar.