USD/JPY was slightly lower in Tokyo trading on the 27th. The rate was ¥159.26 as of 8 a.m., slightly below the NY close of ¥159.31. The market is largely on the sidelines ahead of the start of the Jackson Hole symposium, while there is also caution over potential market reactions to remarks by the Bank of Japan’s deputy governor.
USD/JPY was slightly lower in early Tokyo trading on the 27th. At ¥159.26 as of 8 a.m., it was about ¥0.05 below the NY market close of ¥159.31, having pulled back after testing the upside during yesterday’s New York session. With the Jackson Hole symposium due to begin, trading during Asian hours is expected to become increasingly cautious.
EUR/JPY was range-bound. It stood at ¥185.60 as of 8 a.m., about ¥0.02 below the NY close of ¥185.62, and continued to move around ¥185.60. Attention should be paid to the possibility of small moves in line with USD/JPY while the market assesses movements in crude oil futures and U.S. long-term interest rates.
EUR/USD was little changed. It was at $1.1654 as of 8 a.m., about $0.0003 above the NY close of $1.1651. Trading around the previous day’s close was subdued.
As reference ranges through today, USD/JPY has been reported in a range of ¥159.25–¥159.32, EUR/USD at $1.1650–$1.1655, and EUR/JPY at ¥185.55–¥185.67.