Dollar/yen falls to the 142 level on expectations of ADP and ISM non-manufacturing PMIs underperforming.
【6/4Market Overview
During Tokyo time, the USD/JPY rose to around 144.39 yen on the back of observed dollar buying at the fixing, a firm Nikkei Stock Average, and higher US Treasury yields in after-hours trading.10YearTreasury上昇144.39yields rose,yen level reached. In European time, President Trump commented on SNS that “I like Chinese President Xi, as I have always, and I will continue to like him, but he is very tough and making a deal is very difficult,” which caused risk-off yen buying to lead, and USD/JPY fell to the upper 143s.SNSIn response, USD/JPY dropped to the upper 143s.143The subsequent rebound whenNYDow Jones futures shifted from negative to positive and US10Year Treasury yields rose, helping USD/JPY recover to the144level.NYTime,5MonthADPemployment data showed a gain of11.2ten thousandgain, vsthousand3.7ten thousand gains, a large miss.5Month USISMnon-manufacturing PMI was expected52.0but49.9, below the threshold of50, signaling deterioration, and the dollar fell to142.60yen.
【6/5Market Outlook