4.9

This article is not intended to indicate or recommend buy/sell timing.

Please make your own investment decisions.

While there was little movement in the stock market, the currency market, which had continued to move calmly during the day, fell below 109 yen with the dollar/yen dropping as it entered the European session.

With U.S. rates declining and a continued yen-buying adjustment in both Tokyo and Osaka during the day, there is no single clear reason; as European trading began, stops were hit and prices fell sharply.

At the same time, it was announced that the British government would restrict the use of the AstraZeneca vaccine for people under 30.

Violent protests related to Brexit continued in Northern Ireland, which has been bad news, and the pound has been sold since the European market opened.

Source
BBC NEWS

https://www.bbc.com/japanese/56671599

News about vaccines has been written in this article since January; when compared with the G7, currencies have mostly been bought in order of vaccine dissemination, and the impact on the forex market is deemed large.

https://jp.reuters.com/article/column-daisuke-karakama-idJPKBN2BT31J?il=0

Reuters has begun to discuss this in a column as well, so I think it’s worth taking a look.

The dollar-yen exchange rate was described in yesterday’s article as follows.

It stopped temporarily at 109 yen, but I view it as within the range of an autonomous rebound, so I expect the dollar/yen to remain soft for a while.

Regarding the dollar/yen, the impression is stronger that it will form a solid base rather than rising sharply and then retreating quickly; the turning point should be easy to recognize.

After stopping the decline, I want to watch for a rebound after testing the bottom multiple times.