Dollar/yen falls briefly to around 161.28 yen after Finance Minister Katayama's remarks that GPIF may consider expanding investment in domestic financial assets.

【7/10Market Overview

During Tokyo time, when Finance Minister Katayama stated that “under active fiscal policy, rates are expected to rise gradually,” it led to yen buying. Additionally, when he indicated plans to explore measures to expand investments by pension funds such as GPIF (Government Pension Investment Fund) into domestic financial assets, there was anticipation of reducing the share of overseas assets and increasing domestic assets, prompting yen buying, with the USD/JPY falling to161.28yen. After selling pressure subsided, it was bought back up to the upper 161 yen range. In European trading hours, the USD/JPY showed little directional movement, trading around the upper 161 yen range.161yen level and fluctuated.During the New York time, as crude oil futures prices fell, the dollar weakened, and the USD/JPY briefly hit161.28yen, briefly marking a new intraday low.

【7/13Market Outlook