09/30/2024 21:58

Release： 09/30/2024 21:58

Update： 09/30/2024 21:58

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Dollar/Yen falls to 141.64 yen on Ishiba shock, then rebounds on Powell Fed Chair hawkish remarks.

【9/30Market Overview

In Tokyo time, following Ishiba’s shock (the concern that he would strengthen taxes on financial income and his becoming Liberal Democratic Party president), the Nikkei stock average plunged, and the dollar/yen fell to as low as141.64yen. In European time, the dollar/yen recovered to around142yen level in the later session.In New Yorktime, 9month S&P Global US Manufacturing PMI came in above forecasts, and expectations of dollar buying at month-end and quarter-end fixings supported the dollar, sending the dollar/yen to around143yen. When PowellFedchairman saidGDPgrowth risk is due to revisions toGDI (Gross Domestic Income), butGDIwas revised higher, the market anticipated a hawkish stance, and the dollar/yen rose to around143.90yen.