In the Tokyo market as of 9:00 a.m. on the 14th, the dollar-yen rate fell to the mid-¥153 range. The dollar was down about 79 sen from the end of the previous week, as profit-taking sales prevailed ahead of the US and Japanese monetary policy decisions.
In the Tokyo foreign exchange market on the morning of the 14th, the dollar-yen rate stood at ¥153.41–153.41 per dollar, down about 79 sen from the end of the previous week, marking a weaker dollar and stronger yen and a decline to the mid-¥153 range. Although the level fluctuated in reaction to buying during European hours and moves during US hours, it was holding within this range as of 9:00 a.m.
While the US CPI released at the end of the previous week showed strength in the core index, prompting market attention to the possibility of a rate hike at the FOMC in the middle of this week, concerns over the pace of Bank of Japan rate hikes also remain strong. The dollar-yen rate is expected to continue trading within its range, with its limited upside in focus.
No particular events are scheduled for today, and many market participants expect trading to be centered on position adjustments. Overall, the pair is expected to continue moving around the mid-¥153 range.
The euro remained weak against both the yen and the dollar. As of 9:00 a.m., the euro was reported at approximately ¥177.85–177.86 against the yen and $1.1593–1.1593 against the dollar.