Finance In today's Asian markets, the JPY continues to be on the defensive, outperforming USDJPY in the crosses in particular. This trend is influenced by a number of factors, including the Bank of Japan's ** policy, the strength of US Treasury yields, and the lack of foreign exchange intervention by the Bank of Japan. Analysts note that USD/JPY may rise above the 151 mark. With US Treasury yields holding firm, Japan is buying at the lows, while 150Above 50, there is a demand from exporters to sell. In the cross, EURJPY rose to 162 at one point92, but it fell back on the back of hawkish comments from the ECB. The Australian dollar, the Japanese yen and the New Zealand dollar Japanese yen reached their best levels since 2014 and 2015, respectively.
GBP JPY is trading at 18979-190.23, the best level since August 2015. All JPY crosses are likely to see continued carry trade demand and support when **.
In the Asian session, Japan's benchmark Nikkei broke through its all-time closing high of 38,91587 points. After the release of the private sector PMI, the market was thrown into chaos. According to the analysis, USDJPY is expected to rise above 151 before being overbought, despite a decline.
The Nikkei 225 hit an all-time high intraday, at one point **21% to 39,067 points, entering uncharted territory with Wall Street**. Global money poured into Japan, making it the best-performing market over the past year. The weaker yen provided the impetus and efforts to improve corporate governance also raised expectations for more shareholder returns.
Strategists pointed out that the improvement in Nvidia's earnings has played a catalytic role in Japan's record high. The Nikkei Index** continues to rise, and the market** is faster than expected. Japan's self-bank manufacturing PMI fell slightly, but the services PMI remained stable, indicating economic vitality.
Overall, Asian market dynamics point to strong Japan** and stable JPY. Investors are optimistic about the outlook for the Japanese economy, but still need to pay attention to the impact of changes in the global economic environment on the market.