Dollar/yen rose to 149.09 on strong U.S. economic data, but then stalled.

【7/17Market Overview

Tokyo time, the dollar/yen retreated after the resignation uproar surroundingtheFed Chair Powell, then rebounded to around 148.77 yen as US 10-year Treasury yields rose and the Nikkei stock average advanced148.77,theweakens. In European hours, dollar/yen remained firm in the mid-to-upper 148 yen range supported by rising European stocks.asyen148yen levelNYtime,6month US retail sales and7month Philadelphia Fed index (Phila Fed manufacturing index) exceeded expectations; the prior week's initial jobless claims improved versus expectations, lifting the pair temporarily to149.09yen,asthe prior high of149yen was approached, but when US 10-year yields declined148.38yen, pulling back. Subsequently, as US 10-year yields rose again148.75yen paused near the top with resistance.

【7/18Market View