Dollar-Yen Rangebound at 163.80 Amid Interventions and Bullish Sentiment

The dollar-yen pair remained stuck in a tight range around 163.80 on Tokyo foreign exchange trading on the 24th, despite bullish sentiment on the dollar and potential currency intervention fears.

Even as U.S. 10-year Treasury yields and New York crude oil futures (WTI) took a breather, aggressive dollar-selling moves were limited by strong dollar sentiment.

Caution over potential Japanese monetary authority intervention capped selling pressure on the yen, resulting in price action confined to a narrow range throughout the session.

The day's trading range for dollar-yen was extremely limited, spanning just 21 pips from 163.72 to 163.93.