Yen loiters around 150 as Middle East anxiety heightens
© Reuters. FILE PHOTO: Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File Photo
U.S. Treasuries were subdued as investors hunkered down for a European Central Bank meeting and U.S. GDP data later in the week. Ten-year yields had briefly blipped above 5% last week after Federal Reserve Chair Jerome Powell said the U.S. economy's strength and tight labor markets might warrant tighter financial conditions.
"Potentially there are two camps out fighting around 150, so that's why dollar-yen doesn't move from here," Yamamoto said.
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