US August CPI came in line with market expectations, and expectations for an FRB rate hike are increasing. Dollar/yen temporarily fell to the lower half of the ¥153 range.
US August CPI came in line with market expectations, with some views holding that excessive concerns about inflation following the previous month's PPI have eased. Against this backdrop, expectations of an FRB rate hike once again came into focus. Dollar/yen temporarily fell to around ¥153.24.
Crude oil price trends have been cited as a key factor to watch today and are expected to affect market expectations for interest rates and prices ahead of the US FOMC meeting. Depending on developments in upcoming factors, the direction of the market may change.
According to analysis by 外為どっとコム総合研究所, the dollar is expected to remain range-bound as US August CPI stays subdued. Attention is warranted on the release of upcoming US economic indicators and developments at the FOMC.