Dollar Holds Firm at ¥157.5 Amid Rising US Yields

The US dollar has continued its upward trend against the Japanese yen in Tokyo trading, reaching levels around ¥157.5.

This move was driven by rising U.S. long-term interest rates, which spurred dollar buying and caused the currency to gain more than 60 sen against the yen from the previous evening's levels.

As of 9:00 a.m., the dollar was quoted at ¥157.55-157.56, up 64 sen from ¥156.91-156.92 at 5:00 p.m. the previous day.

The pair oscillated in a range centered around ¥157 during European hours before gaining momentum once U.S. trading began, with the dollar briefly rising to around ¥157.50.