Following Powell's hawkish remarks as Fed chair, the USD/JPY rose to around mid-156 yen.

【11/14Market Overview

In Tokyo time, USD/JPY rose past 155.62 yen after the dollar-buying observed at the fix and the outside-session rise in 10-year U.S. Treasury yields, reaching the highs seen since 7/23,10with 156.14yenand156.14yen and7/23the high since then. In European trading, the dollar/yen continued the Tokyo session trend, rising to as high as156.27yen.In New Yorktime, USD/JPY briefly dipped to as low as155.51yen,10月米PPI156.18yen. Following that, PowellFRBchairman's hawkish remarks such as “there is no need to rush rate cuts given the solid U.S. economy, and future policy will depend on data and the economic outlook” supported the dollar, sending USD/JPY up to156.41yen.