USD/JPY may see further dollar weakness and yen strength from tonight into tomorrow, with a forecast range of ¥156.20–¥157.60 per dollar. On the previous evening, it briefly moved into the mid-¥156 range.
In the foreign exchange market from tonight into tomorrow, attention will focus on whether USD/JPY sees further dollar weakness and yen strength. The forecast range is ¥156.20–¥157.60 per dollar.
During European trading hours, the yen strengthened and the dollar weakened to the 156.30s at one point. This appears to have been influenced by reports that U.S. Treasury Secretary Bessent had made remarks supporting market intervention involving the Bank of Japan, raising expectations that the Bank of Japan could accelerate its rate hikes.
The U.S. August ISM Services PMI is scheduled for release tonight, and with opportunities for Federal Reserve officials to speak, the market reaction will be closely watched.