The dollar-yen rose into the 151 range on a risk-on yen selling driven by expectations of China’s economic improvement.
【12/9Market Overview
Tokyo time, the USD/JPY briefly fell to149.68yen, but then traded in a narrow range around150yen. During European hours, the Chinese Communist Party held a Central Politburo meeting, signaling a stance of “moderately easing” monetary policy for the first time in years. With expectations of Chinese economic improvement lifting Hong Kong stocks, risk-on yen selling led the USD/JPY higher, moving to the upper 150s.NYtime, the U.S.10year Treasury yield rose to4.19% range, providing support to the market, and the USD/JPY climbed to151.34yen.
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