USD/JPY fell to the ¥158 range in New York trading. Yen selling reportedly spread as expectations of a U.S. rate hike strengthened. During trading hours, demand for the dollar weakened, while moves toward a weaker yen became more pronounced. The market is closely watching the outlook for U.S. interest rates.
USD/JPY fell to the ¥158 range in New York trading. Yen selling reportedly spread as expectations of a U.S. rate hike strengthened. Dollar buying was subdued during trading hours, while moves toward a weaker yen became more pronounced.
The market’s focus has shifted to the outlook for U.S. interest rates, with some expecting the possibility of additional rate hikes to affect the yen exchange rate.