TOKYO (Reuters) – The dollar / yen pair fell slightly to the median level of 144 yen at 3pm since the New York market ended the day before. The British pound, which had been selling at its lowest price, rebounded and pushed the dollar lower, and a sense of caution about Japanese authorities’ intervention also contributed to the weight of the higher price.
The pound, which plunged the day before, rebounded on this day. While there were no particular clues, it appears that profit-taking buybacks have become active among short-term investors in reaction to the sharp decline and the dollar has risen more than 1% overnight to a low of $ 1.08. Against the yen, the pair also fell by less than 1% in the lower half of 156 yen.
After a new government took office in Britain, speculators like hedge funds surged in sterling sales, the biggest increase since 2013.
However, distrust of the new administration’s economic policies remains unchanged and many voices continue to predict a further weakening of the pound. It has been pointed out one after another that there is a high possibility that the parity of 1 US dollar = 1 pound will soon be broken.
The dollar / yen pair fell in the upper half of the 144 yen level in the early morning. The depreciation of the dollar against the pound also extended to the yen.
On the market, it is reported that the amount of the yen purchase 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. Yen purchase intervention will exceed JPY 2,620.1 billion on April 10, 1998.
Tsuyoshi Ueno, senior economist at the NLI Research Institute, said: “Forex interventions failed to change the market, as they worked against the fundamentals.” “Although the caution about the intervention is holding back the yen depreciation to some extent, the only thing we can do is wait for the dollar appreciation pressure to ease,” he said.
USD / JPY EUR / USD EUR / JPY
From 15:00 144.38 / 40 0.9650 / 54 139.35 / 39
From 9:00 144.45 / 47 0.9619 / 23 138.96 / 00
NY 17:00 144.75 / 77 0.9606 / 09 139.07 / 11
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