Following a post by President Trump on SNS, concerns about rising U.S. inflation led to the dollar/yen briefly reaching the 150 yen level.
【2/27Market Overview
In Tokyo time, the USD/JPY initially148.74weakened to around10year U.S. Treasury yields rose and the dollar-buying observed at the actuals caused149.42to rise to around149.97in the European session, the pair climbed due to10U.S. Treasury yield increases, etc.149.37yen; however, the pullback was limited.NYtime, President Trump posted on hisSNSthat tariffs on Mexico and Canada would be implemented on3/4and that the same day, tariffs of10% would be imposed on China as well.The dollar strength rose on concerns about rising domestic inflation, pushing USD/JPY to a high of150.16yen.Thereafter, as U.S. stock indexes turned lower—the Dow JonesNYAverage fell and the Nasdaq Composite dropped more than2.7%, the pair retraced toyen.
【2/28Market View