[Two U.S. banks' bad loans spark safe-haven demand, USD/JPY falls below the 150 mark]
Due to bad loan issues at two U.S. banks, global safe-haven demand has risen, strengthening the yen. USD/JPY fell below the 150 mark to 149.63, the lowest level since October 6. The Swiss franc also rose, while the U.S. dollar and U.S. Treasury yields both declined amid regional bank stock sell-offs. Analysts pointed out that if the situation resembles the 2023 regional banking crisis, USD/JPY could drop to the low end of the 146 range. U.S. Treasury yields fell to a three-year low, and the market expects the Federal Reserve's target rate to drop to 3%.