Yesterday, in the Tokyo market, the dollar-yen exchange rate started low at 151.30 yen. However, with news that Trump was likely winning, the dollar gained strength overall. When his victory became certain, the dollar-yen reached 154.38 yen before buying slowed. The exchange rate held steady with little drop, and as the New York market opened, stocks rose sharply in all three indexes. This boosted demand for risk, further weakening the yen, allowing the dollar-yen to rise to 154.69 yen.
It seems that investors lightened their positions before the election, and they may still have buying potential left.
In tomorrow’s early morning FOMC meeting, a 0.25% rate cut is expected, but if the committee shows caution about future rate cuts, the dollar-yen could rise above 155 yen and continue to increase.
Dollar-yen forecast range: 156.60 yen to 153.00 yen.
Note: This information does not guarantee profit. Please make your own decisions when trading.