In tomorrow’s foreign exchange market, developments in Iran are expected to affect crude oil trends, while the dollar-yen exchange rate is expected to trade in a range of ¥157.70 to ¥159.00.
The dollar-yen exchange rate is expected to be influenced by developments in Iran and crude oil trends in the foreign exchange market through the 12th, with the dollar indicated to trade in a range of ¥157.70 to ¥159.00.
The US July employment report released on the 7th came in below market expectations, prompting dollar weakness and yen strength, but the dollar-yen rate subsequently recovered to the mid-¥158 range.
The situation in Iran remains uncertain, and dollar buying is reportedly prevailing alongside rising crude oil prices.
Beth Hammack, President of the Federal Reserve Bank of Cleveland, is scheduled to speak tonight. In addition, Tokyo markets will be closed on the 11th for the Mountain Day holiday. The US July existing-home sales data are scheduled to be released.