The situation in Ukraine continues to be serious. However, the market has a risk-taking atmosphere. As the stock market regains its vibrancy, resource-country currencies and risk-sensitive currencies are being bought in the foreign exchange market. In particular, currencies such as the Australian dollar and the pound are bought not only against the yen and the dollar but also against the euro.
The dollar-yen pair has been a strong move to repaint the platform every day, pushing up the cross-yen pair. The remarkable difference in monetary policy stance between Japan and the United States triggered the buying of the dollar and yen. In addition, the recovery of the stock market and the calming of the price movements of the crude oil market seem to be likely to lead to risk-friendly yen selling.
It seems that each investor is also activating investment strategies and rebalancing movements as the dollar-yen exchange rate breaks out of the stalemate. At the time when the dollar-yen pair was on the 120-yen level, there were observations of fund buying.
The Japanese yen has become a little easier to buy back, and the momentum of the rise in USDJPY and AUDJPY has slowed down a little. However, I don’t think the big trend will change, so if there is a return, I’m thinking of buying.