Dollar/yen falls for the third day in a row ahead of next week's Japan-U.S. finance ministers meeting.
【5/15Market Overview
Tokyo time, USD/JPY fell to as low as145.72yen amid a softening Nikkei and risk-off yen buying. The market weighed on speculation that the upcoming U.S.-Japan finance ministers’ meeting next week would discuss yen depreciation normalization. In European hours, USD/JPY broke below the previous day’s low145.60yen, triggering stops and pushing it down to145.48yen.NYtime,5month U.S. Philadelphia Fed manufacturing index and4month U.S. retail sales beating expectations caused USD/JPY to rise temporarily to146.25yen. However,4month U.S. PPI (Producer Price Index) underperformed expectations and the U.S. 10-year yield fell, which led USD/JPY to145.41yen.
【5/16Market View
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