Despite reports of strong US August jobs data, dollar/yen did not rise significantly into the ¥156 range. Expectations of a Fed rate hike and caution over developments at the Bank of Japan became the market's focus.
A daily FX report covering the previous day's market and the outlook from today onward was distributed in video format. The report was presented by a currency analyst at 外為どっとコム総合研究所, who also posts updates on X (Twitter).
The latest market information cited strong US August jobs data as a market factor. In response, dollar/yen briefly rose to around ¥156.74, but fell back from the ¥156 range to around ¥155.54 amid caution over a correction in yen weakness. There was also speculation that expectations of a Fed rate hike in September supported the dollar.
Upward pressure on the yen and a US holiday were cited as today's key factors to watch, with the report stating that caution remains over the currency market's direction.
The latest English summary cited the release of US PPI and CPI data as key market points to watch, and indicated that the outlook for Fed monetary policy could affect foreign exchange markets.