The USD/JPY lower bound remains firm, and with the NY Dow Jones average rising, it is in the 149 yen range.
【3/21Market Overview
Tokyo time, USD/JPY2month National Consumer Price Index (CPI, excluding fresh food) came in higher than expected,148.58yen fell to, but afterward, as the Nikkei Average started to recover and due to expectations of dollar buying toward the fixing,149yen,149.66yen level was regained. In European time, amid declines in European equities and after-hoursNY Dow futures, risk-off yen buying and dollar selling took precedence, and the USD/JPY fell to around148.60yen.NY time, when President Trump indicated that the planned mutual tariffs to be implemented on4/2will be flexible, easing extreme risk-off sentiment. The Dow Jones Industrial Average, which had been falling, turned higher, and as the U.S.10year Treasury yields rose, USD/JPY rose to149.36yen.
【3/24Market View