TOKYO (Reuters) – The dollar/yen pair fell slightly to the mid-144 yen level at 3:00 pm from the close of the New York market the day before. The British pound, which had been sold to its lowest price, rebounded and pushed the dollar down, and the sense of concern about the intervention of the Japanese authorities also contributed to the pressure of the highest price.
The pound, which plunged the day before, rebounded on this day. While there were no specific clues, profit-taking purchases appear to have become active among short-term investors in response to the sharp drop, and the dollar is up more than 1% from morning to the lower $1.08. Against the yen, the pair also broke back to a lower half of 156 yen by less than 1%.
After a new government came to power in Britain, speculators such as hedge funds have increased sales of pounds, the biggest increase since 2013.
However, the lack of trust in the new administration’s economic policies has not changed, and many voices maintain their outlook for a weaker pound. It has been pointed out one after another that there is a high possibility that the parity (parity) level of 1 US dollar = 1 pound will be broken soon.
The dollar/yen pair fell to the upper half of the 144 yen level early in the morning. The depreciation of the dollar against the pound also spread to the yen.
In the market, it is noted that the amount of the Yen buying intervention implemented by the government and the Bank of Japan for the first time in 24 years was about 3.6 trillion yen on the 22nd. If true, the yen buying intervention will exceed 2,620.1 billion yen on April 10, 1998.
Tsuyoshi Ueno, senior economist at the NLI Research Institute, said, “Forex interventions have failed to change the market trend, as they have acted against fundamentals.” to some extent, the only thing we can do is wait for the pressure of the dollar’s appreciation to ease,” he said.
USD / JPY EUR / USD EUR / JPY
From 3pm 144.38/40 0.9650/54 139.35/39
From 9 am 144.45/47 0.9619/23 138.96/00
NY 5pm 144.75/77 0.9606/09 139.07/11
