Dollar-yen trading in the first half of the ¥159 range in New York; market also expects an FRB September rate hike, with US CPI due on the 12th in focus

Dollar-yen is trading in the first half of the ¥159 range in the New York market, while expectations for an FRB rate hike in September have come back into focus. The US CPI due on the 12th will be the key focus.

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The story

Dollar-yen is trading in the first half of the ¥159 range per dollar, as the foreign exchange market seeks to assess the interest-rate differential between Japan and the United States and the direction of FRB monetary policy.

Market participants continue to expect the FRB to raise rates in September and are pricing in the possibility of a rate hike.

Depending on the US CPI results due on the 12th, the outlook for US interest rates could shift again, affecting dollar-yen trading.

At a glance

Exchange rateTrading in the first half of the ¥159 range per dollar

Fed policyMarket expectations for a September policy rate hike are growing

Key indicatorUS Consumer Price Index (CPI), due on the 12th, in focus

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