The European market is basically closed. Stocks, commodities, and other markets that were closed on Friday resumed in the US, and trading participants in the foreign exchange market have returned considerably. However, some participants are taking the Easter holidays, so trading is expected to be quieter than usual.
For the dollar/yen, there is a rather strong awareness of the dollar’s appreciation and the yen’s depreciation. In April, major U.S. indicators such as the ISM Manufacturing and Non-Manufacturing Business Index and JOLTS job openings continued to be severe, and there is a move to expect interest rates to remain unchanged at the next U.S. Federal Open Market Committee (FOMC) meeting in May. was spreading. But the relatively solid US jobs report over the weekend has revived expectations of further interest rate hikes, supporting dollar buying.
There is a possibility that participants after the Easter holiday will turn to buy dollars again, and it is expected that the dollar will strengthen. However, when there are few trading participants, a wait-and-see mood tends to spread. A full-fledged move is likely to come after the return of the Europeans tomorrow.
Amid thin business, the inaugural press conferences of the new governor of the Bank of Japan Ueda and the deputy governors Uchida and Himino will start today. If the timing is good from a selling point of view, it will be sold.