Concern over worsening global economy sparks risk-off yen buying; USD/JPY briefly falls to the 144 per yen range.

【4/4Market Overview

Tokyo time, the dollar/yen rose to 146.41 at the late-week fix,5・10day fix,146.41yen, but fell to145.30yen amid declines in the Nikkei. In European trading, the dollar/yen rose to146.55yen on the bounce, but China announced it would impose a 34% additional tariff on all imports from the United States in retaliation against U.S. tariffs. With concerns over a worsening global economy leading to a sharp drop in Western stocks, risk-off sentiment drove yen buying. As U.S. 10-year Treasury yields fell, the dollar/yen briefly weakened to34, wait—the number seems inconsistent; intended translation: 144.55％ yen? In the previous line, the value should be 144.55yen, marking the lowest since last October 2.In New York time,3 months U.S. employment dataNFP (Non-Farm Payrolls) showing22.8万人 increase versus the forecast13.5万人 increase,NY indices fell, triggering risk-off dollar buying and pushing the dollar/yen higher to147.43yen.

【4/7Market View