Dollar-Yen Stuck in Mid-157 Range as Markets Await Key Indicators

The dollar-yen pair is expected to remain rangebound around the mid-157 level in Tokyo foreign exchange trading on the 30th, according to finance analysts. This comes after a previous overseas session where dollar buying and yen selling dominated amid rising U.S. long-term interest rates.

However, the pair closed slightly lower following remarks from the Federal Reserve Bank of New York president, which prompted a pause in the rate advance. Market views are now suggesting that the Federal Reserve's pace of rate hikes may not be as rapid as previously anticipated.

With this in mind, upside for the dollar-yen pair is likely to remain limited during Tokyo trading hours. The expected range for the pair is 156.80 to 158.00 yen per dollar.