The dollar-yen pair extended its gains modestly.

【4/16Market overview

In Tokyo time, Finance Minister Nomura said that there is an agreement to coordinate closely on the foreign exchange between Japan and the United States, and Finance Minister Katayama stated that “oil price trends affect currencies, markets are being watched with high tension,” and “the US-Japan finance ministers’ meeting also discussed the exchange rate,” and the dollar/yen fell to158.26yen. However, after selling eased, the Nikkei stock average supported a rebound toward record highs, with the pair158yen levels being bought back to the latter part of the 150s. In European trading, the dollar/yen was158yen level with little movement.In the New Yorktime, as attention rested on the outcome of re-negotiations between the United States and Iran, with crude futures prices rising, the currency market saw broad dollar buying. The dollar/yen rose above the previous day's high159.15yen to159.30yen.4Manufacturing data for April from the Philadelphia Fed and last week's initial jobless claims in the United States came in stronger than expected, providing support for the market.

【4/17Market view