As expectations for additional U.S. rate hikes intensify, the USD/JPY rises to 160.04.

【11/12Market Overview】

In Tokyo time, when Finance Minister Shunichi Suematsu said that “it is too early to forget the memory of the large-scale yen-buying intervention in the summer,” there was a slight yen-buying drift, and after 10 o'clock, the yen fell to 159.47.10Past159.47yen, and then, comments from Asada, a BOJ Policy Board member, such as “we must be mindful of the pace of rate hikes,” were interpreted as dovish and reluctant for further hikes, and the yen rose to 159.83.159.83In European time, USD/JPY exceeded the previous day’s high of159.93yen and rose to159.94yen.DuringNYtime, with rising expectations of another U.S. rate hike, the U.S. 10-year yield rose, triggering broad dollar buying. USD/JPY temporarily reached160.04yen and9/2high, but after briefly breaking above the 160 handle for about two months, concerns over government and BOJ intervention pushed it back to159.29yen, and subsequently,159.89yen was bought back.

【11/13Market View】