Dollar/yen moves in tandem with the U.S. 10-year Treasury yield.
【10/29Market Outlook
Tokyo time, USD/JPY fell to around152.74yen amid expectations of lower US 10-year yields in after-hours trading and yen selling by Japanese exporters near the fixing,152.74yen. In European trading, as US 10-year yields began to rise, USD/JPY recovered to the153yen level. During New York time, following the rise in US10year yields, USD/JPY moved up to about153.86yen. Afterward,9Month USJOLTSjob openings were7.443million, well below the expected8.000million, causing USD/JPY to drop to152.96yen. However, the coincident release of10Month US Consumer Confidence Index exceeding expectations also supported gains, and USD/JPY rose to153.74yen. Later, as the US7Year note auction performed well, US10Year yields began to decline, and USD/JPY faded to the153yen area in the lower half.