Dollar/yen extends its gains for a third day, modestly.
【2/3Market Overview
During Tokyo time, the USD/JPY weakened from around 155.29 yen due to a broad rise in the Nikkei average, as the dollar strengthened the previous day and then retraced.155.29yen to the downside. During European time, the USD/JPY rose to around 156.08 yen, affected by rising U.S. 10-year yields, but later saw a sell-off in dollar due to London fixing, and the dollar gradually fell.156.08yen to the upside. After that, following London fixing, dollar-selling flows were observed, and the USD/JPY drifted lower.NYTime, fueled by some reports that the U.S. detonated an Iranian drone nearing a U.S. aircraft carrier in the Arabian Sea, U.S. stocks and Nikkei futures extended losses, sending USD/JPY down to155.52yen.
【2/4Market View