No important events are expected today.

The real yield of US ten-year government bonds has updated 14-year maximum, which is favorable for the dollar, while this situation puts pressure on risky assets – we see sell-offs in the equity markets and in the segment of cryptocurrencies.

Against this background, investors may start to close positions in speculative carry trade deals, which will lead to the strengthening of the Japanese yen, as this currency has been used as the main currency in such operations for the last 2 decades. The American stock market is actively discussing the upcoming banking crisis, as the Fed rates are at multi-year highs, which led to problems in the mortgage lending market. The situation in this currency pair is very confusing – there are positive factors for both the dollar and the yen.

Recommendations: flat 144.70 – 145.80.