In the European foreign exchange market on the 5th, the dollar-yen is holding firm. As of 8:00 p.m. it stood at 158.38 yen, moving about 20 sen in the direction of a stronger dollar and weaker yen from 158.18 yen at 5:00 p.m. Dollar buying was seen sporadically as market participants watched the narrowing decline in the U.S. 10-Year Treasury Yield, and the pair briefly recovered to just shy of 158.44 yen. The dollar-yen traded mainly in the upper 157-yen range from Tokyo hours through European hours before recovering into the 158-yen range in tandem with moves in U.S. long-term yields. At 5:00 p.m. it was at 158.18 yen, about 29 sen stronger for the dollar compared with 157.89 yen at 3:00 p.m., and buying continued thereafter.
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