【Today's Yen Outlook】The dollar-yen pair may maintain its firm tone, but upward momentum for the dollar is likely to weaken as it approaches the psychologically significant 165 level.

[Foreign Exchange Market Opening Comment] On the New York foreign exchange market on the 22nd, the dollar-yen rose from ¥163.01 to a high of ¥163.18 and closed at ¥163.15. U.S. President Donald Trump stated, 'If Iran attacks ships in the Strait of Hormuz, we will strike bridges and power plants, including in Tehran,' heightening concerns over an escalation of conflict. This, coupled with rising crude oil prices and long-term interest rates, supported dollar buying. Fears of Japanese authorities intervening to curb yen weakness also kept yen selling limited. On July 23, the dollar-yen is expected to remain firm.

Fisco Japan11minutes ago

Deutsche Bank: Japan may shift its policy focus from supporting the yen to controlling government bond yields to underpin its economic growth plan.

Deutsche Bank stated that to achieve the Japanese government's ambitious economic growth targets, Japan may need to shift its policy focus in the future from supporting the yen to controlling government bond yields, in order to lower financing costs and ensure fiscal sustainability.

Zhitong Finance43minutes ago

Persistent concerns over an escalation of the U.S.-Iran conflict have driven crude oil prices higher and pushed up long-term interest rates, keeping the dollar in a trading range at elevated levels against the yen, at ¥163.81.

[London Market Overview] On the 22nd, the dollar-yen pair struggled to gain traction in the London foreign exchange market. Yen-buying emerged on speculation of an early rate hike by the Bank of Japan fueled by related news reports, pushing the pair down to the mid-162 yen range by the afternoon. It later recovered slightly in European trading, moving between ¥162.91 and ¥163.11, but upside momentum remained limited. The euro-dollar pair declined from $1.1412 to $1.1400, pressured by dollar-buying amid firm crude oil prices, before stabilizing. The euro-yen pair rose from ¥185.86 to ¥186.05 before stalling amid concerns over potential foreign exchange intervention.

Fisco Japan05:00

Express News | The U.S. dollar index fell on the 22nd.

Breakings03:53

Japanese Yen Needs Improved Fundamentals For Any Interventions to Prove Effective -- Market Talk

WSJJul 22 22:35

U.S. Stocks Could Soon Have a Yen Problem -- Barrons.com

Barron'sJul 22 21:29