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The Dollar-Yen Pair Holds Steady with Risk-On Sentiment
reaching the lower range of 141 yen.
“Dollar-Yen Pair Maintains Stability Amid Risk-On Sentiment”
In yesterday’s international market, the Dollar-Yen pair experienced a decline, reaching the lower range of 141 yen. However, in the Tokyo market, it demonstrated relative resilience and achieved a level of 141.86 yen. This can be attributed to the prevailing risk-on sentiment, bolstered by the notable recovery in the Nikkei Average.
Nevertheless, persistent selling pressure in the Chinese market has resulted in a significant plunge of over 300 points in the Hang Seng Index. Concurrently, the offshore Chinese yuan (CNH) has weakened, breaching the critical threshold of 7.20. The onshore yuan (CNY) has also witnessed an upward trajectory, reaching the level of 7.1970. These unfolding developments have somewhat subdued the prevailing risk-on sentiment.
The Euro-Yen pair, which encountered a corrective phase from the 155 yen range to approximately 154.00 yen in the international market yesterday, commenced the Tokyo morning session around 154.30 yen. During this time, a brief surge in buying activity propelled it to reach 154.80 yen momentarily. Similarly, the Pound-Yen pair experienced a temporary dip below 180 yen in the international market but commenced the Tokyo morning session around 180.30 yen and briefly reached the 181 yen range.
The Euro-Dollar and other currency pairs have displayed a more subdued trajectory, with the yen taking the lead. Attention remains focused around the 1.0910 level.
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