Dollar/yen rises to 155.73 yen, after expectations of Bank of Japan early rate hikes retreat, a fresh high not seen since 2/3.

【11/18Market Overview】

In Tokyo time, dollar/yen fell on a risk-off mood amid a sharp decline in the Nikkei, retreating to around154.81yen, but the sense of yen weakness due to the Akie administration's expansionary fiscal policy remained strong, and after selling pressure subsided155yen area rose. In European hours, after Prime Minister Kishida and Bank of Japan Governor Ueda indicated they had discussed foreign exchange too, though specific details were held back, the reaction was limited. The market began to price out an early rate hike by the BOJ, leading to yen weakness, and the dollar/yen rose to155.44yen. In New York time, dollar/yen declined to155.05yen due to a drop in U.S. stocks, but later, as U.S. 10-year Treasury yields limited their decline, dollar/yen bought back and briefly reached100107352/32/32/3the highest sinceto, updating the high since.

【11/19Market View】