US PCE as expected, suggesting inflation is moderating; dollar-yen declines on expectations of U.S. rate cuts.

【7/26Market Overview

In Tokyo time, USD/JPY briefly fell to153.40yen, but near the fix the real demand in Japan led to a rebound to154.14yen. In European time, with European stocks rising, risk appetite eased and yen selling and dollar buying led first, with the 10-year U.S. yield rising pushing USD/JPY up to154.73yen. In New York time, as the 6-month U.S. Personal Consumption Expenditures (PCE) price index (deflator) indicated inflation was cooling roughly as expected, expectations for a US rate cut increased. The 10-year U.S. yield fell and yen buying and dollar selling dominated, sending USD/JPY down to briefly153.08yen.NY時間、6月米個人消費支出（PCE）価格指数（デフレーター）が、ほぼ市場予想通りとインフレの鈍化が示されると米利下げ観測が高まった。米10年債利回りが低下し円買い・ドル売りが先行し、ドル円は一時153.08円まで下落。