The immediate implementation of mutual tariffs between the U.S. and Japan was postponed, easing excessive concerns. USD/JPY fell to the 152 level.
【2/13Market Overview
During Tokyo time, the USD/JPY rose on expectations of Nikkei index gains and domestic demand for USD, briefly154.66yen, but then stalled. In European trading, the USD/JPY fell to the high 152s as profit-taking selling dominated153yen levels. In NY time,1month USPPI (Producer Price Index) exceeded expectations, sending the USD/JPY briefly to154.00yen, but as buying cooled and US 10-year Treasury yields fell, upside pressure waned. Additionally, President Trump signed an executive order directing the introduction of “mutual tariffs” at the same level as tariffs on US-made products by foreign countries; however, going forward, the USTR (USTR) and the Department of Commerce will survey by country and respond individually, delaying immediate imposition, easing excessive concerns about trade frictions. The USD/JPY fell to152.69yen.
【2/14Market View