USD/JPY is expected to trade between the low ¥157s and ¥163 in September. With views that the effect of coordinated intervention in curbing yen depreciation will diminish, monetary policy developments in Japan and the United States will be the focus.
USD/JPY is expected to remain firm in September, with an expected range of ¥157.000 to ¥163.000. The article reports that monetary policy developments in Japan and the United States are expected to determine market conditions in September.
Trading in August ranged from ¥155.218 to ¥160.204, with the month-end closing price at ¥159.746. Although the yen weakened at times, market concerns over the impact of coordinated intervention remained.
Key factors to watch in September include the U.S. August Consumer Price Index (CPI), due to be released on 11 August, and the FOMC meeting on 16 August. Expectations for a Bank of Japan rate hike also remain a factor that could affect the market.