12/08/2025 20:51

Release： 12/08/2025 20:51

Update： 12/08/2025 20:51

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This is a magazine for upskilling in FX trading. Two features: FX Evangelist Endō's USD/JPY analysis, and former mega-bank chief dealer Hayashi's global analysis of the foreign exchange market.

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U.S. 10-year bond yields rise guide the dollar/yen to rise to 155.98 yen.

【12/8Market Overview

Tokyo time, as the Nikkei Average started higher and turned lower, the USD/JPY declined to154.90yen. Thereafter, due to expectations of domestic demand for dollar purchases, it rose to155.20yen. In European time, the USD/JPY drifted higher.NYtime, the USD/JPY rose on the back of the rise in U.S.10year treasury yields to155.98yen. In the market, expectations of a rate hike at the Bank of Japan Monetary Policy Meeting (12/18-19) were mostly priced in, and selling of the yen based on concerns about Japan’s deteriorating fiscal condition outweighed yen buying on expectations of BoJ rate hikes. Additionally, a magnitude 6+ earthquake occurred off the eastern coast of Aomori Prefecture, and as a risk-off move, USD/JPY briefly fell to65? (likely a misreading; intended: 155.39155.39yen, but the reaction was temporary.