USD/JPY rose into the ¥157 range against a backdrop of a rebound in AI-related stocks. Ahead of next week's FOMC and Bank of Japan meeting, the market's focus is shifting to key events in the US and Japan.
Yesterday, USD/JPY rose to around ¥157.64 as a rebound in AI-related stocks progressed and defensive yen buying was unwound. At one point, however, it fell to around ¥156.65 amid a decline in the Nikkei 225.
The focus ahead will shift to the US FOMC and the Bank of Japan meeting. The FOMC policy decision is expected the following day, and its impact on the market is expected to be limited, although it could prompt a market reaction.
The latest factor cited is the impact of movements in AI-related stocks on USD/JPY. Ahead of events in the US and Japan, the market is expected to remain in a phase of searching for direction.
The English summary indicates that US durable goods orders and the October consumer confidence index are scheduled for release, but that USD/JPY movements are expected to remain limited under the influence of the FOMC.