Dollar-yen stalls below 159.41 yen as early gains fade for second day

The dollar-yen pair struggled to extend an early advance in Tokyo trading on the morning of the 28th, rising to 159.41 yen before slipping to 159.29 yen by 9:00 a.m. A similar reversal occurred on the 27th, when the pair climbed to 159.31 yen in the early 7:00 a.m. hour and later fell to 159.18 yen shortly after 9:00 a.m. The two-day pattern has left the pair consolidating in the lower 159-yen range. EUR/JPY traded between 185.59 yen and 185.74 yen on the 28th, recently hovering around 185.65 yen, while the euro-dollar pair rose from $1.1646 to $1.1655 and was near $1.1653. The euro strengthened against both the yen and the dollar, and the yen also firmed against the dollar, pointing to broad dollar weakness and a pause in dollar-buying momentum. Participants cited uncertainty over U.S. monetary policy and month-end commercial flows, including possible dollar-selling by exporters and other commercial players, as factors limiting the dollar-yen pair. The euro's resilience was linked in market views to the European economy and perceptions of the European Central Bank's policy stance. U.S. economic indicators and remarks from Federal Reserve officials are expected to guide the dollar's next move, with the key question being whether dollar-yen can remain above 159 yen or test lower levels.

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Dollar-yen stalls below 159.41 yen as early gains fade for second day - CoinPost Terminal