USD/JPY Dollar-Yen - 2024: U.S. Treasury Secretary reiterates the United States' principle of non-intervention stance

■Position Change Signals, Event – May 23 (Thursday)

Tokyo morning: dollar weak. As European time approaches, dollar weakens. From NY to London fixing, dollar strengthens. NY close, dollar strengthens.

・The offer amount for the Bank of Japan's government securities purchase operation, which drew attention once the 1.000% level on 10-year JGBs, remains unchanged from the previous time. In NY time, the dollar is quickly bought on the US PMIs.

・U.S. Treasury Secretary Janet Yellen

“Interventions are not a tool used routinely” “Intervention should be rare and require prior notice.”

G7 declares the U.S. non-intervention policy

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■ U.S. and Japan interest rates

・U.S. Treasuries are rising in yields (bear flattening)

US02yr 4.940（+0.067）

US05yr 4.533（+0.069）

US10yr 4.479（+0.053）

・ Japanese government bonds are falling in yields

JP02yr 0.340（-0.010）

JP05yr 0.576（-0.022）

JP10yr 0.995（-0.006）

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■ Current positions

5/17 – BUY @ 155.60

(LAST @ 156.95)

Support at 156.79, upside breakout resume point 156.94

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■ Positioning changes

5/15 – SELL @ 156.30

5/06 – BUY @ 153.40

5/01 – SELL @ 156.25

4/30 – BUY @ 156.77

4/29 – SELL @ 156.36

4/05 – BUY @ 151.63

4/04 – SELL @ 151.33

4/01 – BUY @ 151.39

3/27 – SELL @ 151.35

3/12 – BUY @ 146.90

3/05 – SELL @ 150.11

3/04 – BUY @ 150.43

2/29 – SELL @ 150.55

2/21 – BUY @ 150.16

2/20 – SELL @ 150.01

2/19 – BUY @ 150.10

2/15 – SELL @ 150.48

2/07 – BUY @ 148.03

2/06 – SELL @ 148.44

2/02 – BUY @ 146.70

1/31 – SELL @ 147.41

1/30 – BUY @ 147.60

1/29 – SELL @ 147.71

1/25 – BUY @ 147.65

1/24 – SELL @ 147.95

1/15 – BUY @ 145.11

1/12 – SELL @ 145.35

1/09 – BUY @ 144.45

1/08 – SELL @ 144.63

1/02 – BUY @ 141.50