Dollar/yen moves little in the upper mid-151 range to the later part of the 151s. U.S. JOLTS job openings beat expectations, but reaction remains muted.

【4/2Market Overview

During Tokyo time, the dollar/yen rose on active buying driven by the current account balance. Subsequently, in after-hours, U.S.10year note yields roseto 151.80yen. In European time, dollar/yen traded in a narrow range around151.60yen. In New York time, amid a sharp rise in German long‑term yields and expectations of a stronger-than-forecast May 3-month German and French manufacturing PMI, euro/dollar rose, weighing on the dollar, sending dollar/yen down to151.46yen. However, with U.S.10year yields remaining high and expectations that the start of U.S. rate cuts will be delayed, dollar/yen declines were limited. Also, the2month U.S.JOLTSjob openings stood at875.6ten thousand, slightly above the forecast of874.0ten thousand, but the market’s reaction was muted given the previous month’s figure was revised down.