The USD/JPY is hovering around the high-150s due to the ambiguity in Middle East developments.
【4/15Market Overview】
During Tokyo hours, as expectations grew for progress in peace talks between the United States and Iran, the go-to date (5・10) on the spot rate approached for dollar buying, and the USD/JPY rose to159.06yen. In European hours, while there are expectations that the United States and Iran are close to resuming negotiations toward ending hostilities, the outlook remains uncertain, and with a wait-and-see mood prevailing, USD/JPY stayed range-bound around the upper-158s.NY time, USD/JPY rose on the back of expectations that the Bank of Japan would delay rate hikes, with the yen selling and the dollar buying leading, and at one point USD/JPY reached up to159.15yen. After Finance Minister Katayama said after the US-Japan finance ministers meeting that “if necessary, we will take decisive measures,” it fell to158.75yen. However, the reaction was temporary, and USD/JPY was bought back to159.12yen.
【4/16Market Outlook】