In response to cautious remarks about rate cuts from the President of the Federal Reserve Bank in Kansas City, Schimidt, the USD/JPY moved to the 146 yen level.
【8/22Market Overview
Tokyo time, the USD/JPY declined to144.84yen, but later due to expectations of actual demand for dollars in Japan,145.65yen climbed. In European time, USD/JPY was trading around145yen in the lower half of the range. NYtime, following cautious remarks from Federal Reserve Bank of Minneapolis President Neel Kashkari about the need to see more data before supporting a cut, there was a broad dollar bid. U.S.10year Treasury yields rose and7-month U.S. existing-home sales surprised to the upside, pushing USD/JPY to146.52yen.
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