The New York market outlook says dollar-yen may warrant close attention if US July CPI comes in above expectations. There are also reports that safe-haven dollar buying is currently under way.
The New York FX market outlook is focused on movements in dollar-yen, with reports that caution will increase if the US consumer price index for July comes in above expectations. Although the article does not provide specific figures or timing, it points to the possibility that an upside surprise in CPI could prompt dollar buying. The outlook appears to assess short-term trends in dollar-yen. It also emphasizes that the market is largely waiting for subsequent catalysts.
Meanwhile, there are reports that safe-haven dollar buying is currently under way. As geopolitical risks and other sources of instability in financial markets affect exchange rates, the article suggests that there are periods when demand for the dollar increases. It describes the dollar's market tone in this environment.