At the beginning of the week, dollar-buying has started trading. With the Tokyo market closed for the Sports Day holiday, the dollar/yen had a moment to extend its highs to the 145.67 level. It has risen again to the level of September 22, when the Bank of Japan implemented foreign exchange intervention. After hitting a high, the price has slowed down to the low 145 yen level.
If the euro/dollar is expected to hold its topside in the mid-0.97 range, it is now likely to break below the low-0.97 level. In addition to the strong dollar pressure after the US employment statistics, there is also the aspect of euro selling. An explosion occurred on the Crimean Bridge over the weekend. Russian President Vladimir Putin said there was no doubt that the attack was a Ukrainian terrorist attack. Russia is scheduled to hold a security conference early next week. There are fears of retaliation against Ukraine. In the afternoon Japan time, an explosion sounded in Kyiv, the capital of Ukraine, and it seems that there were several explosions in the city center. Will geopolitical risks emerge again in Europe amid fears of a nuclear attack?
The pound-dollar exchange rate is in the upper 1.10 range and the Australian dollar/dollar exchange rate is in the lower 0.63 range, indicating that the dollar is searching for a higher level, and dollar-buying pressure continues overall. The Bank of England has said that it will add measures to support market functions such as LDI management, and plans to focus on preventing confusion in the market when the temporary purchase of British long-term bonds expires on the 14th.
US dollar buying is strong today. However, I do not think that this will continue one-sidedly for a week, and I would like to wait for the timing of the reversal.
Buying GOLD has already stopped out, so the current position is only selling USDJPY.