Trading activity in Tokyo on the 18th is expected to remain limited ahead of the release of the BOJ monetary policy meeting results. Dollar buying and yen selling intensified the previous day, with the dollar recovering to the ¥156 range during U.S. trading hours. August CPI rose 1.9% overall and 1.7% on a core basis, both slightly below market expectations.
Market attention is focused on the release of the BOJ monetary policy meeting results. The forecast range for USD/JPY was indicated as ¥154.80–¥157.20. Dollar buying and yen selling intensified during the previous day's European and U.S. sessions, and the dollar recovered to the ¥156 range.
The market is expected to see volatile movements immediately after the announcement. The August national consumer price index released earlier this morning rose 1.9% year on year overall, while the core index rose 1.7%, with both figures slightly below market expectations.
In Japan, the August CPI, the BOJ monetary policy meeting results and a press conference by BOJ Governor Ueda are scheduled. In North America, the U.S. August Composite Index of Leading Indicators is due to be released, while in Europe, the U.K. August retail sales data are scheduled for release.
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