Dollar-yen faced strong resistance in Tokyo on the morning of the 11th, retreating to around 154.32 yen after briefly reaching 154.62 yen from an opening level in the early 154.30 yen range. The dollar-buying momentum built during European trading on the 10th paused as investors took profits and adjusted positions. The yen also strengthened against the euro, with euro-yen falling to around 179.23 yen after reaching 179.49 yen, while euro-dollar rose from $1.1604 to $1.1614. The previous day’s European advance was driven by higher U.S. long-term yields, including a 10-year Treasury yield that briefly reached about 4.865%. Market participants are watching U.S. economic data and comments from senior Federal Reserve officials, with renewed expectations for higher U.S. rates potentially supporting the dollar. The pair may continue consolidating around 154 yen as room remains for further yen buybacks.