With the outlook for USD/JPY drawing attention in the New York market just ahead of the FOMC, oil price movements have been identified as a potential factor influencing the direction of foreign exchange markets. Investors are focused on oil prices and US interest rates.
The outlook for USD/JPY is attracting attention in the New York market as the FOMC approaches. Ahead of the US interest rate outlook and policy announcement, market participants continue to look for direction in USD/JPY.
Oil price movements are seen as affecting USD/JPY, and fluctuations in oil prices are being treated as a factor increasing uncertainty in the foreign exchange market.
The focus going forward is expected to be on oil price movements and the content and intent of the FOMC announcement. The direction of foreign exchange markets is expected to be particularly susceptible to these 2 factors.