The gap between Japanese and U.S. monetary policy is being recognized, and the dollar/yen rose to the upper 161 yen range briefly.

【6/18Market Overview

During Tokyo time, the USD/JPY rose toward the Tokyo fixing due to dollar buying160.75to around 160.75 yen, but then moved little around160.60yen. In European time, expectations for an early rate hike by the BOJ faded whileFRB（Federal Reserve） rate hike prospects kept the USD/JPY spread in focus, pushing the pair to160.95yen. In NY time, crude oil futures prices stayed firm, and as the declines in the US10year treasury yields narrowed, dollar buying led the USD/JPY higher to161.80yen,2024年7月以来約1年11カ月ぶりの高値を更新。その後、本邦通貨当局による円買い介入警戒感で160.95円まで下落となるが、161円台半ばまで買い戻された。

【6/19Market View