The deterioration of personnel reductions at U.S. companies led the USD/JPY to fall to the late-152 yen range.

【11/6Market Overview

During Tokyo time, the dollar/yen began with the Nikkei Average rising over1000yen, reaching154.14yen, but as stock prices pared gains, the upside weakened,153.80yen came under pressure. In European time, the dollar/yen was driven by a decline in U.S.10Treasury yields and softness in after-hoursNYDow Jones futures, trading from the high-151s to mid-152s.NYTime,10month U.S. corporate layoff numbers175.3% showed a sharp deterioration, cooling the optimistic view on the U.S. labor market from the previous day. As U.S.10year Treasury yields fell, the dollar/yen slipped below the previous day’s low152.95yen to152.83yen."

【11/7Market View