Mumbai, April 1 -- The Japanese yen hovered steady below the 159 mark against the US dollar, as optimism over a potential de-escalation in Middle East tensions lifted global risk sentiment and weighed on the greenback's safe-haven appeal. Adding to the yen's resilience, the Bank of Japan's Tankan survey showed a notable improvement in business sentiment, with large manufacturers' confidence index rising to 17-its highest level since December 2021 and marking a fourth consecutive quarterly gain. While these factors capped upside in the USD/JPY pair, market participants now turn their focus to upcoming US macroeconomic releases, including the ADP report and ISM Manufacturing PMI, for near-term directional cues.

Published by HT Digital Cont...