Minister Kono of Digital Affairs and former US President Trump comments prompt a sharp drop to the dollar/yen in the 155 yen range.
【7/17Market Overview
In Tokyo time, the USD/JPY rose to around158.62yen as the Nikkei rose. Later, as the Nikkei fell into negative territory and on the back of a pause in U.S. Treasury yields, the USD/JPY stalled around157.70yen. In European and American trading hours, reacting to news broadcast during Tokyo time that “Tarō Kono, Digital Minister, urged the Bank of Japan to raise policy rates to correct the yen’s weakness” and news that former President Donald Trump said “the United States faces bigger problems due to a stronger dollar,” there was dollar buying and yen selling ahead. The USD/JPY fell to aroundNYclose just before156.05yen. At the time of writing today (9:00) the USD/JPY had fallen to155.36yen.
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