LONDON (Reuters) – The dollar tries to break out of the key 160 yen level but with little success as traders, fearing intervention by Japanese officials, avoid punishing the yen too heavily against other currencies.
Bitcoin regains some ground after starting the week with its worst daily session in more than two months, which analysts said was partly due to outflows from bitcoin exchange-traded funds (ETFs).
The dollar was trading nearly 0.1% lower at 159.47 yen, remaining in a narrow range, with traders wary of testing the key resistance level that had prompted Tokyo to intervene for 9.79 trillion yen in late April and early May.
The pound trades stable at 1.2696 dollars.
Politics is also a focus for investors, with the first US presidential debate between Joe Biden and Donald Trump set for Thursday and the French election expected at the weekend.
The euro, pressured by political turmoil in France after President Emmanuel Macron called early elections this month, trades little at $1.0727, recording a monthly loss of 1%.
The dollar trades flat at 105.488 against a basket of currencies.
As for cryptocurrencies, bitcoin advanced by 2% to 60,661 dollars, recovering part of the 6.65% decline from yesterday’s session, caused by continuous investment outflows.
(Translated by Camilla Borri, editing Antonella Cinelli)
