The dollar-yen pair is expected to remain firm in the European and U.S. markets, while uncertainty over U.S. economic data persists and yen crosses are expected to provide support.
In the European and U.S. foreign exchange markets on the 15th, the dollar-yen pair is expected to remain firm, with yen crosses likely to receive support alongside a recovery in European currencies. Against the backdrop of the previous day's rise in U.S. CPI, long-term U.S. Treasury yields briefly rose to high levels, and dollar buying was observed.
The market outlook will be influenced by U.S. indicators including the Producer Price Index (PPI), the Philadelphia Fed Manufacturing Index and retail sales. If inflation remains elevated, higher interest rates could persist and strengthen pressure to buy dollars, while softer data could cause dollar buying to recede.
Meanwhile, growing concern over the Japanese government's efforts to restrain yen depreciation and the possibility of coordinated intervention by Japan and the United States could prompt renewed yen buying. After the dollar-yen pair approached ¥159 today, it is expected to be pushed back toward ¥158 as U.S. yields lose momentum.
Today's schedule for the European and U.S. markets includes euro area industrial production, U.S. initial jobless claims, September retail sales, the PPI, the Philadelphia Fed Index and business inventories.