Concern over intensifying US-China confrontation pushes USD/JPY down to the mid-151 yen range.
【10/14Market Overview
Tokyo time, the USD/JPY rose to10on higher US bond yields and expectations of dollar buying by domestic real demand after holidays152.61yen, but thereafter, due to the LDP leadership election and China-US tensions, risk-off sentiment emerged, causing it to fall to151.61yen. In European trading hours, USD/JPY remained in a narrow range around152yen. In New York time, after China announced sanctions on a U.S. subsidiary of a Korean shipyard, concerns about a flare-up in China-US tensions resurfaced, and USD/JPY fell to151.60yen.
【10/15Market View
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