The morning forecast range for dollar-yen was 157.500-158.800 yen, with the market focused on Fed Chair Warsh's speech at the IMF-World Bank Annual Meetings. Previous economic data and interest-rate movements are also likely to have an impact.
Dollar-yen edged lower the previous day, while today's forecast range was indicated at 157.500-158.800 yen. The market is closely watching Fed Chair Warsh's opportunity to speak at the IMF-World Bank Annual Meetings.
US September retail sales and the producer price index exceeded market expectations, while US long-term interest rates fell sharply. As a result, selling pressure against the dollar temporarily intensified.
Expectations for an additional rate hike at the FOMC have risen slightly, and the market is focused on whether Chair Warsh's speech will contain positive indications. Speaking opportunities are limited ahead of the blackout period.
The key for dollar-yen is whether it can break above the current 200-day moving average near ¥158.58.