Dollar-yen rose to the 158 yen range on dollar selling following the reports of the House of Representatives dissolution.
【1/12Market Overview
During Tokyo time, amid Japan’s holiday, the yen weakened on reports that Prime Minister Suga could dissolve the lower house, sending the rate to158.20yen. Afterwards, prompted by reports that the FRB would begin an investigation into Chairman Powell over the headquarters renovation, the dollar weakened and the USD/JPY fell to157.51yen. However, as the Nikkei 225 futures remained solid, the USD/JPY was bought back to158.18yen. In European trading, concerns over the FRB’s independence caused the USD/JPY to slip to157.67yen. In New York time, the USD/JPY rose on the yen’s weakness driven by dissolution rumors, reaching158.19yen.
【1/13Market View
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