USD/JPY rises to 158.85 on stronger-than-expected U.S. retail sales, then stalls.
【7/16Market Overview】
Tokyo time, in the onshore market after the long holiday, dollar buying by real demand forces pushed USD/JPY to158.79yen. In European trading, USD/JPY eased after the U.S.10year Treasury yields fell, pushing it down to158.25yen. In New York time, when the6month U.S. retail sales beat expectations, USD/JPY rose to158.85yen. However, thereafter, as U.S.10year Treasury yields declined and bets on Fed rate cuts or yen-buying intervention by the government and the Bank of Japan grew, it slipped to theFOMC rate-cut expectations and yen-buying intervention chatter, hovering around158.30yen.
× ![]()