US PPI forecast revised down, dollar/yen continues to fall as expectations of further U.S. rate hikes fade.

【1/12Market Overview

In Tokyo time, the dollar/yen fell early to144.95yen, then the Nikkei stock average repeatedly hit post-bubble highs, and with the rise in the U.S. 10-year yield after-hours10, it rebounded to145.41yen. In European time, the dollar/yen traded in the lower 145s.145yen area. In New York time, the dollar/yen rose to10year yield on the rise in the U.S.145.56yen. After that,12monthPPI (U.S. wholesale price index) exceeded expectations, while inflation concerns had previously risen due to12monthCPI (U.S. consumer price index) easing, and the prospect of an earlier rate cut by the Fed rekindled. With the decline in the U.S. 10-year yield, the dollar/yen fell to144.36yen.