Dollar/yen rises to the 145 yen range on "dollar buying during emergencies."

【6/17Market Overview

In Tokyo time, the dollar/yen rose as reports that President Trump instructed the U.S. National Security Council to prepare a Situation Room circulated, with geopolitical risks in the Middle East in focus, and briefly145.11yen reached. At the Bank of Japan's Monetary Policy Meeting, the policy rate was kept at0.50%, and the pace of government bond purchases to start from next year4month was decided to be reduced, from current about4000billion yen to about2000billion yen. As a result, the dollar/yen weakened to144.40yen. In European time, due to no particularly hawkish views conveyed at Governor Ueda's press conference, the dollar/yen rose briefly to145.02yen, but then stalled at144.41yen. In New York time, as clashes between Israel and Iran intensified and safe-haven dollar buying led the dollar to rise, the dollar/yen returned to the145yen level. At the London fix, there were dollar-buying expectations, and the dollar/yen rose to145.28yen.

【6/18Market View