Amid rising expectations of a slower pace of rate cuts by the Federal Reserve, the dollar/yen rose to the 149 yen level as U.S. 10-year Treasury yields climbed.
【10/9Market Overview
In Tokyo time, USD/JPY fell to148.00yen but rose to148.44due to expectations of real demand for USD in Japan. Then, when the Ministry of Finance announced a press conference on strengthening fiscal policy adjustments (10/12), expectations led to a reduced decline in Shanghai stocks, and USD/JPY briefly rose to148.62yen. In European hours, expectations for Chinese fiscal policy fueled a risk-on mood, and USD/JPY continued to edge higher. In New York time, with rising expectations that the pace of U.S. rate cuts would slow, the U.S. 10-year Treasury yield rose to around4.0765%, pushing USD/JPY to8/15the high since149.36yen.
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