Dollar-Yen, on reports of a ceasefire between the United States and Iran, the reversal of “buying dollars in times of crisis” is leading the way.

【7/24Market Overview

Tokyo time, USD/JPY rose toward the fix, 163.93yen, but after Finance Minister Katayama said, “We will take firm, decisive action on the currency,” a yen weakness warning was conveyed, and the pair fell to163.72yen. Thereafter it hovered around163.80yen with little movement. In European hours, as crude oil futures declined, USD/JPY briefly fell to163.65yen, but later recovered to163.87yen.NY time, reports said that Pakistan is seeking to resume negotiations to end hostilities between the U.S. and Iran, which have paused. The oil futures market fell, prompting a reversal of “flight-to-dollar” safe-haven buying. With the decline in the 10-year U.S. Treasury yield as well, USD/JPY fell to163.10yen, but after selling abated and oil futures fell less sharply, and the drop in the 10-year yield narrowed, USD/JPY rose to163.84yen.

【7/27Market View