Dollar/yen moves up and down on the back of U.S. economic indicators, but the range around the 150 yen level continues.

【3/1Market Overview

In Tokyo time, after Governor Ueda’s cautious remarks on inflation outlook and gains in the Nikkei, the dollar/yen rose to150.48yen. In European time, carrying over the Tokyo session, the dollar/yen rose to150.68yen.In NYtime,2month US Manufacturing Purchasing Managers’ Index (PMI) revised higher, the dollar/yen rose to150.71yen. However,2month USISM Manufacturing Index and the2 month US University of Michigan Consumer Sentiment Index (preliminary)1 month US Construction Spending, if weak, together with a sharp drop in US10year Treasury yields, pushed the dollar/yen down to150.05yen.