Dollar/Yen rises to 157.97 as risk-off retreat reverses.

【10/27Market overview

During Tokyo time, the yen/dollar rose toward the fixing as expectations for dollar buying and a sharp rise in the Nikkei stock average supported the pair,157.76to the level of 157.76 yen. Afterward, U.S. 10-year Treasuries yields declined in after-hours trading and the yen eased slightly, but then rebounded to157.88yen. It should be noted that Finance Minister Katayama said, “If necessary, we will take decisive measures and we will continue to monitor market developments,” but it did not have an impact on the market. In European time, the dollar/yen remained firm following the Tokyo session’s trend.NYtime,FOMC（10/27－28） and Bank of Japan Monetary Policy Meeting（10/29－30） were on the horizon, with position-adjusting yen selling and dollar buying taking the lead.10月 U.S. Consumer Confidence Index and9月 U.S. new home sales exceeding expectations, and near the close of trading157.97yen was reached.

【10/28Market view