Foreign exchange and interest rates: The dollar fell to around 153 yen at 3 p.m., while bond futures continued to rise.

November 26, 2024, 3:18 pm GMT+9

<15:08> The dollar fell to the mid-153 yen level at 3:00 pm, causing ripples due to President Trump's tariff remarks
At 3:00 pm, the dollar/yen was trading at around 153 yen, with the dollar weakening against the yen since the end of the New York market the previous day. President-elect Trump's indication of imposing tariffs after taking office led to selling of the Canadian dollar, Mexican peso, and Chinese yuan, while the dollar, yen, and Swiss franc were bought as risk-averse assets.
However, after the rapid movements subsided, there was a growing sentiment to assess the situation further, leading to a narrowing of the declines for currencies like the Mexican peso, and a decline in the dollar.

<15:10> Government bond futures continued to rise, with high US bond prices and falling stocks providing buying support, resulting in a decrease in long-term interest rates to 1.06%.
The center month of government bond futures, the December contract, continued to rise by 8 sen from the previous trading day and closed the trading at 142 yen and 93 sen. The high US bond prices and the risk-off trend in the Japanese stock market became buying factors. The yield on newly issued 10-year government bonds (long-term interest rates) fell by 1.0 basis points to 1.060%.
Today's government bond futures saw a solid performance from the opening, driven by the background of easing concerns about fiscal expansion following the nomination of Scott Bessent as the next US Treasury Secretary. This led to a favorable tailwind as US bonds were bought, pushing the 10-year bond yield (long-term interest rates in the US) into the 4.2% range.