Using the content of Prime Minister Ueda's dovish speech on the 25th as material, dollar-yen buying leads up to the 158 yen level.

【12/26Market Overview

（※Distribution within the year ends with this article. We plan to resume on1/6（Monday））

In Tokyo time, the dollar/yen initially declined to157.07yen, but due to the observed demand for dollars from domestic real demand at the fix, it rose to157.47yen. After that, it moved in a range around the mid- to upper-157s. In European session, Governor Ueda of the Bank of Japan stated in his 12/25 lecture that the Bank will closely monitor developments for future policy and that continued rate hikes are cautious; this supported dollar-buying.In New York time, as the prior week's U.S. initial jobless claims improved versus expectations, the dollar/yen rose to158.08yen.