Dollar/Yen rose to as high as 158.45 yen.

【10/1Market overview

Tokyo time, the USD/JPY pair moved as the main opinions at the Bank of Japan Monetary Policy Meeting for October did not indicate an acceleration of rate hikes, leading to a yen selling trend99/ month meeting158.40yen reached. In European hours, USD/JPY rose briefly to158.45yen. After Prime Minister Kishida stated that “economic and fiscal management is not conducted for currency manipulation,” yet that “strengthening Japan’s economy and international competitiveness supports the yen’s credibility,” USD/JPY fell to158.20yen. In New York time, selling of dollars for real demand and buying of yen were observed, bringing it down to157.21yen. After selling ran its course, reports that President Trump discussed resuming airstrikes on Iran led to a rise in crude futures, and USD/JPY was bought back to158.25yen.

【10/2Market view