The Dow Jones Industrial Average hits a new high, risk-on sentiment; USD/JPY climbs up to 149.80.

【10/16Market overview

Tokyo time, where Adachi, a Bank of Japan Policy Board member, stated that “the conditions for the monetary policy normalization process have already been met,” lifting expectations for further BOJ rate hikes, and the USD/JPY briefly fell to148.85yen. Later during the same speech, Adachi signaled a cautious stance toward premature hikes, saying that “swift rate hikes should be avoided,” and the USD/JPY rebounded to149.37yen. In European time, the USD/JPY traded in a narrow range around149.30yen.NYtime,NYthe Dow Jones Industrial Average rose to a record high, and in a risk-on move, the dollar was bought and the yen sold, pushing USD/JPY to149.80yen.