USD/JPY fell to the 145 yen level temporarily, but later rebounded to the 147 yen level.

【7/24Market Overview

In Tokyo time, dollar/yen moved lower as expectations grew that the Bank of Japan would be able to raise rates following the tariff negotiations between Japan and the United States,146yen briefly breached and fell to145.85yen. After that, it hovered around146yen. In European hours, as expectations grew for progress in tariff talks between the US and the EU, European stocks rose, leading to risk-on yen selling and dollar buying, pushing it to the mid-140s aroundEU,146yen and above.NYTime,7月 Manufacturing Purchasing Manager's Index (PMI) for the US, w/速報値49.5, which is below the 50 threshold considered the dividing line between expansion and contraction, marking the first time since12月7月ぶり of such breach, caused the dollar/yen to drop to146.36yen. Afterwards, dollar buying led, and near the close it rose to147.02yen.

【7/25Market View