Dollar-Yen Pauses Near 153 as U.S. Yields and Inflation Data Weigh

The dollar-yen pair stabilized in New York trading on the 11th after briefly dipping to 153.24 yen around 10 p.m., but a visible floor at this week's low of 152.89 yen prevented further declines.

Support was lent by the U.S. 10-year Treasury yield, which narrowed its decline from the 4.90% range to the 4.94% range, causing dollar-yen to be bought back up to the 153.60 level.

The preliminary September University of Michigan Consumer Sentiment Index came in at 47.8, below market consensus of 51.0, while inflation expectations exceeded forecasts.

As a result, the impact on currency markets was limited, and EUR/USD edged modestly higher to $1.1614, while EUR/JPY found support after early weakness.