Observations of delaying changes to the U.S.-Japan monetary policy due to US trade policy impact lead to dollar buying and yen selling.
【7/8Market Overview
Tokyo time, USD/JPY rose on observed dollar buying at the fixing146.44yen level. Subsequently,7/20 elections for the House of Councillors and concerns over measures against Trump tariffs led to expectations of increased government fiscal spending,20 year and30 year JGB yields rising, souring the mood145.88yen was nabbed lower. In European hours, European participants entered USD/JPY buying.NY time, bets spread that U.S. tariff policies would delay further BOJ rate hikes andFOMC rate cuts, leading to yen selling and dollar buying. Also.on U.S.10year yields rose, pushing USD/JPY to146.97yen and6/23 highs, the strongest since then.
【7/9Market View
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