Russia launches an ICBM, risk-off yen buying pushes USD/JPY down to the 153 level.

【11/21Market Overview

In Tokyo time, the dollar/yen pair traded with a gentle downtrend amid softening the Nikkei average, hovering around 155 yen.155During European hours, Williams, the president of the U.S. Federal Reserve, told Bloomberg that “rates could move lower further” and that “disinflation will continue,” sending the dollar/yen toward the mid-150s.154There were reports that Russia had launched an ICBM (intercontinental ballistic missile),)triggering risk-off sentiment and prompting yen buying amid geopolitical risks surrounding Russia and Ukraine.NYtime, the dollar/yen fell to around153.90yen. After profit-taking subsided, aided by a rebound in U.S. stocks and the rise in the U.S. 10-year Treasury yield, the dollar/yen was bought back to the154yen level.