The dollar was in the upper ¥156 range and slightly lower in Tokyo foreign exchange trading on the morning of the 26th amid mixed market factors. With the FOMC and the Bank of Japan policy meeting announcement due this week, the market is expected to focus on the respective policy stances.
USD/JPY was slightly lower in the upper ¥156 range in Tokyo trading on the morning of the 26th. At 9:00 a.m., it stood at ¥156.81–¥156.82, representing a 14-sen dollar decline against the yen from the previous weekend.
In overseas trading last weekend, USD/JPY temporarily fell into the ¥156.50 range during European hours before recovering to around ¥157. During US hours, it fell back to around ¥156.30 early in the session but rose to around ¥157 by the middle of the session. Toward the close, it struggled to rise above the ¥156.80 range amid selling on rallies.
In Tokyo trading after the weekend, the pair strengthened temporarily to around ¥157 before coming under some selling pressure. With the FOMC and the Bank of Japan policy meeting results due this week, many expect policy rates to remain unchanged, but the two central banks' press conferences are attracting considerable attention.
The euro was firm against both the yen and the dollar. At 9:00 a.m., EUR 1 was ¥175.91–¥175.92 and USD 1.1216–1.1217.