Dollar/yen fell to 157.30 yen amid expectations of easing Middle East tensions, but weak U.S. economic indicators weighed on the pair.

【8/5Market Overview

Tokyo time, the dollar/yen began with dollar selling before the Tokyo Fix,157.30yen to fall to, but as there was no intervention by Japanese authorities to buy yen on 8/4,157.87yen moved higher gradually. In European session, with expectations of easing Middle East tensions, crude oil prices fell and broad dollar selling led the dollar/yen to157.30yen, aligning with the low reached during Asian session.NYtime,7monthemployment data and the same month’s ISMISMnon-manufacturing composite index came in below expectations, fueling dollar weakness, but with market vigilance over potential yen-buying intervention by Japanese and U.S. authorities amid concerns about yen depreciation due to Japan’s fiscal difficulties, the dollar/yen was157.81yen bought back.

【8/6Market View