Dollar-Yen Pauses Near 159 Yen Amid Rising US Long-Term Yields
The dollar-yen pair showed a firm tone in the New York foreign exchange market on September 24, trading at 158.85 yen per dollar by 4 a.m. Japan time on September 25 (3 p.m. EDT on September 24). This is roughly 4 sen higher for the dollar from the 158.81 yen level seen at 2 a.m.
The pair maintained a firm tone in the upper 158 yen range, supported by the underlying upward trend in U.S. long-term yields. As the U.S. 10-year Treasury yield extended its gains to the 5.17% range, dollar-yen rebounded to near the 159 yen level.
The EUR/USD pair was little changed, trading at $1.1373 per euro by 4 a.m. The pair had moments of selling pressure due to dollar strength accompanying the widening rise in U.S. long-term yields, but it resisted further declines ahead of the session low of $1.1359.