Dollar-Yen Holds Firm as Oil Prices and Yields Provide Support

The dollar-yen pair held its ground in the upper 153 range as oil prices and U.S. long-term yields provided support.

NYMEX WTI crude futures rose above $95 per barrel, while the U.S. 10-year Treasury yield increased to around 4.81%.

This combination of factors created an environment where investors favored the dollar, with dollar-yen trading in a range of 153.60 to 153.68 throughout the European session.

Despite some initial weakness in the Tokyo session, dollar-yen rebounded and held firm against yen selling pressure.