The dollar-yen pair briefly rose to near ¥155 in New York trading on the 14th. With the monetary policy meetings in Japan and the United States approaching, views are spreading that ¥155 will serve as the near-term upside marker.
The dollar-yen pair briefly rose to ¥155.00 in New York foreign exchange trading on the 14th before falling back to ¥153.99. It closed at ¥154.39, with dollar buying supported by higher oil prices as well as rising long-term interest rates.
Oil prices rose after Saudi Arabia shut down major pipelines as a precaution, and this was said to have prompted dollar buying. Oil prices subsequently fluctuated again at times following comments by President Trump.
The dollar-yen pair is expected to continue trading while searching for direction today, 15 September. The monetary policy meetings in Japan and the United States will be the focus this week, and comments on the timing of rate hikes by the Bank of Japan could affect the yen.