Dollar-yen steadies around 154.30 in Tokyo as oil and US yields rise

  • Dollar-yen traded without clear direction around 154.30 in Tokyo afternoon trading on Oct. 11.
  • Dollar-yen ranged between 154.21 and 154.61 yen as WTI crude reached the $103 range.
  • Japanese exporter dollar-selling orders were concentrated from the upper 154 yen range through 155 yen.

Dollar-yen lacked direction around 154.30 in Tokyo afternoon trading on Oct. 11, holding within a 154.21-154.61 range as profit-taking and position adjustments followed the prior day's advance. NYMEX WTI crude futures rose to the $103-per-barrel range and the US 10-year Treasury yield reached the 4.9% level as Middle East stabilization expectations faded, providing support for the dollar. Exporter dollar-selling orders between the upper 154 yen range and 155 yen capped gains. Euro-dollar remained soft in the low $1.16 range, while euro-yen traded higher with other yen crosses. Markets are watching Middle East developments and US economic data for their effect on oil prices, inflation expectations and Treasury yields.

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