In last week’s foreign exchange market, the trend of a strong dollar and weak yen continued, reaching as high as 146 yen at one point on May 9.
This was due not only to the Bank of Japan showing a cautious stance toward additional rate hikes at its May 1 meeting but also because excessive concerns about the U.S. economy have gradually eased.
In particular, the May 7 FOMC meeting demonstrated a wait-and-see stance without being swayed by uncertainty, which contributed to market stabilization.
Despite the tariff-related confusion since April, there were only two changes to the statement since the previous meeting on March 19.
