Dollar yen falls sharply for the third day in a row.

【1/27Market Overview

In Tokyo time, USD/JPY was bought back first. Supported by the Nikkei stock average’s rebound, it temporarily rose to154.87yen. In European time, USD/JPY faced sustained expectations of coordinated intervention by the U.S. and Japan, and when a sizable amount of yen buying and dollar selling occurred, it fell through the previous low to153.29yen, triggering stop-loss orders,153.19yen, and then154.19yen rebounded sharply, making for volatile moves.During NYtime, Finance Minister Katayama said after theG7online meeting that he would take appropriate actions in close coordination with U.S. authorities. Also,1month U.S. consumer confidence index and the same month's Richmond Fed manufacturing index were weaker than expected, weighing on the dollar/yen.During NYtime toward the end of the session, President Trump stated that he did not think the dollar had fallen excessively and that he was not concerned about a weak dollar, which broadly pushed the dollar lower, and USD/JPY fell temporarily to152.08yen, hitting the lowest since10/29last year.

【1/28Market Outlook