05/12/2026 21:13

Release： 05/12/2026 21:13

Update： 05/12/2026 21:13

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This is a magazine for upskilling in FX trading. Two features: FX Evangelist Endō's USD/JPY analysis, and former mega-bank chief dealer Hayashi's global analysis of the foreign exchange market.

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"Dollar buying in times of crisis" is the backdrop, as the dollar/yen continues to rise on stronger-than-expected U.S. CPI.

【5/12Market Overview

During Tokyo time, the rise in crude oil futures prices and the increase in 10-year U.S. Treasury yields supported a dollar-buying ahead of time. Also, although a U.S.-Japan finance ministers’ meeting was held, market vigilance for yen-selling restraint comments did not materialize, and USD/JPY temporarily rose to157.74yen. However, as sizable yen-buying and dollar-selling flow came in, it fell sharply to156.58yen. In European hours, USD/JPY eased after the initial selling and then drifted higher on concerns about the Iran situation implying a “safe-haven dollar” bid.NYTime,4month U.S.CPI(Consumer Price Index) rose year over year by3.8%, above the expected3.7%. The core index, excluding energy and food, rose year over year by2.8%, above the expected2.7%. As a result, 10-year yields rose and broad dollar buying led USD/JPY to157.76yen.