Following strong U.S. economic indicators such as rice retail sales, the dollar/yen climbed to the 148 yen level.

【1/17Market overview

In Tokyo time, USD/JPY rose as the Nikkei average firmness supported the intraday high, breaking above the previous high of147.31yen toyen. In European session, USD/JPY moved little in the147.84147yen area.In New York session,12month U.S. retail sales rose by0.6%and beat the consensus of0.4%, and on a0.4% basis excluding autos also beating expectations of0.2%, which diminished expectations for early Fed rate cuts.U.S.10year Treasury yield rose, supporting dollar buying.12month U.S. industrial production and1month NAHB housing market index surpassed expectations, providing supportive material, and USD/JPY rose to148.52yen.