Forex Top Team

Brainard’s remarks strengthen dollar buying

The dollar buying has intensified in the foreign exchange market from earlier, the dollar yen has risen to the 123 yen level, and the euro dollar has expanded to around 1.0950 dollars. It seems that Brainard’s Fed director’s remarks were transmitted after 23:00 Japan time and responded to the statement that “the balance sheet will be reduced at a rapid pace in May.” Regarding the FOMC in May, although the possibility of a significant rate hike has been factored in, there are disagreements about the reduction of the balance sheet.

The FOMC minutes are scheduled to be released tomorrow, but the contents will be watched.

The market is heavily inclined to buy USD. At the same time, the depreciation of the JPY is accelerating. USDJPY rose to the 123 yen level again.

Buying EURJPY continues.

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