In the Tokyo market, the dollar rose to 143.87 yen, and in the European market, it went up to 143.89 yen. However, it did not reach last week’s high of 144.03 yen, showing that it is hard for the dollar to go higher.
In the New York market, when U.S. long-term interest rates fell, the dollar dropped to around 142 yen by the end of trading.
There are more expectations now that the Bank of Japan, starting its meeting tomorrow, will show a positive attitude toward raising interest rates.
Today, the dollar-yen movement may change depending on the results of the JOLTS (job openings) report and the Consumer Confidence Index.
However, because Japan is starting its Golden Week holidays, and because Thursday is May Day when U.S. and European markets are closed, the trading volume will be low. In this situation, quick ups and downs (“back and forth” movements) are expected.
Dollar/Yen Expected Trading Range: 141.50 yen – 142.80 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.