JPMorgan Chase & CoJPM
Mentioned
Impact on stocks 1
Digital Finance & Tokenization
JPMorgan Chase & CoJPMorgan Chase & CoThe dollar continued to trade in the low 163 yen range in the morning. There were moments when selling by exporters was seen around the round number, pushing it lower, but the underlying firmness of dollar-yen remained unchanged, with the previous day's flow continuing where the dollar was bought amid rising crude oil prices against a backdrop of Middle East turmoil. Some voices also cited the government's stance, reflected in the Basic Policy on Economic and Fiscal Management and Reform approved by the cabinet the previous day, as a reason for the simultaneous progress in yen selling. Junya Tanase, head of FX research at JPMorgan Chase Bank, said regarding currency intervention that whether and when it will be conducted depends on the situation, and pointed out that it may not be implemented in a phase of gradual rise while trading sideways. He also noted that as the momentum for a stronger dollar driven by expectations of U.S. rate hikes has been lost over the past three weeks or so, attention is on whether the FOMC will turn hawkish and price in further rate hikes, leading to a stronger dollar.
JPMorgan Chase & Co