USD/JPY falls for the first time in three days, with a limited rebound as the decline in Japanese and U.S. stock indices weighs on sentiment.
【10/15Market Overview
Tokyo time, the USD/JPY pair was supported by a steady mood as the Nikkei average rose to40000 yen level,149.70yen range for now, but then lost steam alongside the Nikkei's limited gains, slipping to the mid-149s.149yen range. In European time, with declines in European stocks, risk-off demand pushed the yen higher and the USD/JPY briefly fell to148.84yen. Thereafter, it rebounded to149.41yen.NY time,10month USNY Fed Manufacturing Index severely disappointing expectations, sending the USD/JPY down to148.93yen. After the initial selling ran its course, with the view that US rate cuts would proceed at a slower pace, the USD/JPY rose to149.53yen. Subsequently, amid declines in US and Japanese stock indices, the USD/JPY retreated to the lower-149s.149yen range.