Dollar/yen rose to 158.94 on higher-than-expected US CPI outlook, but stalled as the US 10-year Treasury yield declined.

【10/14Market Overview

Tokyo time, USD/JPY rose to158.51yen, but later, on the back of a decline in U.S. Treasury yields for the 10-year, it pulled back to158.11yen. In European trading, USD/JPY rose on higher crude prices with dollar buying and yen selling, but investors remained cautious ahead ofCPI data.NYtime,9月 CPI（CPI） for the previous year rose by3.7%、 excluding energy and food, the core rose by2.6%， both beating market expectations, rekindling expectations of an early U.S. rate hike and accelerating broad dollar buying, sending USD/JPY to158.94yen. However,NY afternoon, the 10-year yield turned lower, and USD/JPY slid to158.04yen.

Additionally,the Beige Book released by the Federal Reserve noted that “overall, labor market conditions were little changed,” while inflation pressures were intensifying in some regions.

【10/15Market View