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Commodities

Dollar/Yen Stuck in Upper 163 Range Amid Intervention Jitters

Guavy AI Editorial Team
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Oil
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The dollar/yen pair continued to hover in a narrow range near the upper 163 yen level throughout Tokyo trading on the 24th, lacking any clear directional bias.

Dollar buying momentum subsided as the rally in NYMEX WTI crude oil futures and U.S. 10-year Treasury yields paused, while persistent caution over potential currency intervention by Japanese monetary authorities restrained excessive yen selling.

The pair dipped to 163.76 yen during the morning session before recovering, and continued to fluctuate around the 163.80 yen level into the afternoon.

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