In the Tokyo market, the dollar/yen has risen to 134.81 yen, surpassing the most recent high on January 6. Subsequent declines were sluggish, and the trend of a strong dollar continued. The U.S. employment report has shown incredible strength so far this month, and this week the U.S. consumer price index, U.S. retail sales, and yesterday’s U.S. producer price index and other major indicators have been equally strong. . Before the U.S. employment statistics, it was widely expected that interest rate hikes would be halted at the FOMC in March. The prospect of implementation is spreading, and it looks like it’s going to support the dollar.
We expect USD selling to come in due to cautious movements and adjustments in creating new positions before the weekend, but USD buying is stronger than expected, and yesterday’s USDCHF selling stopped out.
Today, we are selling USD again at USDJPY.