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Dollar appreciation due to risk-on

The dollar was strong last week, but the U.S. Treasury downgrade turned around only on Monday, and the stock market turned around late in the week, making this a week in which the Trump trade before the U.S. presidential election is being closed out.

On Friday, the dollar dropped intermittently in the afternoon, and instead of the usual sellers, there were sellers who were trying to hit a return, sellers who were trying to prevent a return, sellers who were trying to force the market to give up its accumulated longs, and other covert intervention-like moves.
To be precise, on November 29, 2024 (Fri.) at 7:00 p.m., the Ministry of Finance will announce the results of intervention on a monthly basis (from October 30, 2024 to November 27, 2024).
If intervention is made, we have to wait until the October-December period of 2024 (announced in early February 2025) to find out how much and on what days, since the announcement is made every three months.

Next week, risk-on will basically continue, but the margin of growth will be small, and I have a feeling that there will be no major direction, with some things reversing.
In particular, it does not seem likely to move unilaterally for things like the dollar/yen where the flow could bend, but there is a possibility that it could spill over to other things, so I am not sure about both the price range and time length.

However, the major global flow of funds is expected to continue to strengthen the dollar due to risk-on.