With concerns over further tariffs on rice and the intensifying U.S.-China trade frictions, the dollar/yen fell to the 142 range.

【6/2Market Overview

Tokyo time, over the weekend, President Trump stated that he would raise the additional tariffs on imported steel products by 2 times to 50%, and he also said that “China has completely violated the agreement with the United States,” raising concerns about intensified U.S.–China trade friction, with the dollar/yen falling to143.33yen. In European time, selling of the dollar against European currencies led the dollar/yen to143yen break below.NYtime,5month U.S.ISMmanufacturing index and4month U.S. construction spending came in below expectations, prompting dollar selling and pushing the dollar/yen to142.53yen. Afterwards, with the NY Dow Jones Industrial Average turning up from a steep fall and White House spokesperson NavarroNYtime142yen zone upper, but the upside was capped.

【6/3Market View