Dollar-yen is expected to trade in a narrow range around the ¥158 level tomorrow, with an expected range of ¥157.60–¥158.50. The release of the U.S. October CPI and remarks by Fed officials are cited as market drivers.
In the foreign exchange market from tonight into tomorrow, dollar-yen is expected to continue fluctuating modestly around ¥158. Market participants expect a range of approximately ¥157.60 to ¥158.50.
The key U.S. economic indicator is the October consumer price index (CPI). A wait-and-see stance is expected to spread ahead of its release. Remarks by U.S. monetary policymakers will also attract attention tonight, and market moves may rise or fall depending on these factors.
Specifically, remarks by Fed Vice Chair Bowman, Chicago Fed President Goolsbee and Richmond Fed President Barkin are expected to be the market's focus.