Iran situation tightening and FOMC statement being hawkish, etc., causing USD/JPY to rise to the 160s.
【4/29Market Overview
During Tokyo time, Japan was on holiday, and the USD/JPY continued to trade solidly in the mid-159 yen range.159 NYTime reports that “President Trump rejected Iran's proposal and signaled continued blockade” and “If Iran does not act, President Trump will consider military action,”WTIcrude futures surged, and the USD/JPY rose to160yen range.FOMCas expected by the marketFFpolicy rate's target range3.50-3.75%was kept unchanged. The statement noted that “inflation remains elevated” and that “developments in Middle East tensions are a source of high uncertainty for the outlook,” which was interpreted as hawkish by the market, and the USD/JPY rose toto exceed the high of160.46160.46yen, rising to160.47yen.
【4/30Market View