There is speculation of a discussion to correct the yen depreciation in the Japan-U.S. talks, and the USD/JPY briefly fell to around 145.60 yen.
【5/14Market Overview
In Tokyo time, USD/JPY rose to as high as147.67yen, but ahead of the fixing, domestic real demand for selling dollars and the Nikkei average weakness led to a drop to146.84yen. In European hours, reports that a Korean government official said that “the deputy minister for the Planning and Finance Ministry met with U.S. Deputy Treasury Secretary Robert Kaproth to discuss the won,” raised expectations that there might be yen depreciation discussions in U.S.-Japan talks, and USD/JPY fell to145.60yen. In NY time, after some reports stated that “the U.S. government is not seeking a weaker dollar as part of trade negotiations,” USD/JPY was bought back to147.12yen.
【5/15Market View
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