As vote counting in the US midterm elections progresses, attention is focused on today's dollar/yen moves. Developments in overseas markets, including the RBA's rate decision, will also have an impact, and reports suggest that the results may take longer to emerge.
As expected by the market, the RBA raised its policy rate by 25 bp to 4.85%. However, 3 members of the monetary policy committee argued for leaving rates unchanged, and the phrase "further rate hikes as necessary" was removed. The governor indicated that the bank would wait and assess forthcoming data.
Regarding Iran, reports said that both the United States and Iran were considering a proposal from a mediator aimed at avoiding all-out war, while Iran expressed the view that the US response was unsatisfactory. The information is based on reporting by Bloomberg.
US September JOLTS job openings totaled 7.523 million, well above the market forecast of 7.164 million and up from the previous month. The number of layoffs fell to 1.641 million, the lowest level since March 2025.
Today's dollar/yen outlook indicates a range of 157.7–159.3, and the pair rose on a closing-price basis yesterday. There is speculation that the US midterm election results could trigger dollar-selling and yen-selling.