The Liberal Democratic Party's Takashi Takai (Takahashi) has a high likelihood of being elected as Prime Minister, and the USD/JPY pair retraced slightly for the first time in four days.
【10/17Market Overview
In Tokyo time, the USD/JPY fell to around10year Treasury yields declined and the Nikkei average fell149.72yen as a result. When Deputy Governor Uchida of the Bank of Japan said, “If the economy and price outlook materialize, we will continue to raise rates,” the USD/JPY fell to149.37yen. During European hours, after the Ishin no Kai's Fujita said, “The ruling Liberal Democratic Party and Ishin coalition talks have made substantial progress. We will carry out the final negotiations,” the USD/JPY recovered to149.78yen. In NY time, as the U.S. 10-year Treasury yield rose, dollar buying led the way. Also, concerns over escalating U.S.-China trade tensions eased, and several U.S. financial institutions reported solid results before the market opened, easing concerns about U.S. regional banks. With US stocks rising, the USD/JPY was supported and climbed to150.65yen.
【10/20Market View
