Dollar yen, amid caution about yen-buying intervention, moves little in the mid-161 yen range.

【6/23Market Overview

Tokyo time, USD/JPY briefly rose to161.73yen, but overall traded around161.60yen. In European session, amid cautiousness about yen-buying intervention by Japanese authorities, yen-buying and dollar-selling led to a fall to as low as161.26yen. However, with expectations of higher US rates, dollar buying resumed and the pair recovered to around the mid-161s.NYtime, USD/JPY fell due to declines in cross yen pairs like EUR/JPY, but dollar buying against the euro progressed, offsetting factors for USD/JPY, leaving it little changed around the mid-161s.161yen level in the mid-range with little movement. Additionally,6the June US Manufacturing and Services PMIPMIflash surpassed expectations, while the June US Richmond Fed Manufacturing Index came in below expectations.

【6/24Market View