Dollar-yen steady, rising for the fourth straight day to the 158 yen level.

【5/14Market Overview

Tokyo time, the USD/JPY rose toward the closing fix as investors expected to buy dollars and sell yen,157.99to around 157.99 yen. However, with comments from a BoJ board member suggesting that a rate hike would be desirable as soon as possible,157.35the pair fell. It then recovered to around157.90yen. In European trading, USD/JPY traded in the high 157s.157yen level to mid-157s.NYtime, amid rising expectations for improved U.S.-China relations following the summit, USD/JPY rose to158.16yen, but later a sizable amount of dollar selling and yen buying pushed it down to around157.28yen at one point. After the vol drop, buying came back to the fore. At the London fix (London16time • Japan time24time), dollar buying was observed, and as U.S.10year Treasuries yields rose, USD/JPY climbed to158.42yen.

【5/15Market View