The dollar/yen rebounds following the results of the Japan-U.S. tariff negotiations, but stalls after Trump's post.
【4/17Market Overview
Tokyo time, USD/JPY initially fell to141.61yen and the previous day's low141.64yen, but after remarks from Akazawa, the Minister of Economic Revitalization who attended the US-Japan tariff negotiations, saying that “there was no discussion on exchange rates,” yen selling led the way and the dollar/yen rose to142.86yen. In European session, USD/JPY rose to as high as143.08yen on the back of the results of the US-Japan tariff negotiations.NYtime, after President Trump posted on SNS thatPowelFRBchairman should resign immediately, dollar selling prevailed, sending USD/JPY down to4month Philadelphia Fed index for manufacturing turning out weaker than expected and a decline in the NYNYDow Jones, pushing USD/JPY to141.90yen. Subsequently, it recovered to142.72yen.
【4/18Market View