In this week’s foreign-exchange market, dollar-yen is expected to remain firm but face limited upside as oil prices stay elevated against the backdrop of developments in Iran, making a break out of its range unlikely.
In this week’s foreign-exchange market, dollar-yen is maintaining firm downside support, while developments in Iran are cited as the backdrop to continued higher oil prices. Market participants are focused on maintaining current range levels and believe a sharp change in direction is unlikely.
Trading ranges are also likely to remain limited depending on stock-market and interest-rate movements, and many market participants believe there is little sign at present of a notable range breakout.