The USD/JPY is pressured by weaker-than-expected US PPI estimates, but the yen weakening remains persistent, rising to 159.56.

【8/13Market Overview

In Tokyo time, the USD/JPY rose to159.48yen intraday, but when reports emerged that159.17the Kishida administration supports BOJ rate hikes, it faltered to159.40yen level. Thereafter, there was no follow-through selling and the pair rebounded to around159yen mid-teen levels and held firm. In European trading, USD/JPY around theNYtime,7MonPPI（Producer Price Index） came in below expectations, crude oil futures fell, and the U.S.10year bond yields declined sharply, with USD/JPY briefly dropping to159.02yen, after which buying recovered, pushing USD/JPY up to159.56yen.

【8/14Market Outlook