USD/JPY edged lower into the low ¥158s on the 21st, with the 200-day moving average watched as support. From this week onward, remarks by Fed officials at Jackson Hole and developments involving the US Treasury Secretary are expected to be the market's focus.
This article highlights movements in the foreign exchange, equity, bond and commodities markets as of Friday the 21st. USD/JPY recorded a modest decline on a closing-price basis, while renewed buying emerged depending on movements in long-term US yields. From this weekend onward, the market is expected to focus on data and remarks from Jackson Hole. Depending on developments from the 22nd onward, the 200-day moving average is viewed as likely to function as support.
In a separate article section, the US services PMI showed improvement, while European PMIs came in above market expectations and the UK services PMI also showed strength. These developments are presented as reflecting both the risk of slower global economic growth and signs of recovery.