Dollar-yen holds near 153.40 ahead of US inflation data

  • Dollar-yen traded near 153.40 in Tokyo after briefly rebounding to 153.5.
  • The pair ranged from 153.25 to 153.98, while an earlier quote was 153.480 and down 0.3% over 24 hours.
  • Traders kept positions limited ahead of US PPI, CPI and next week’s FOMC meeting.

Dollar-yen traded in a narrow range around 153.40 during Tokyo afternoon trading on the 9th, after briefly rebounding to 153.5. It moved between 153.25 and 153.98, compared with 152.88 to 154.37 on the 8th, while an earlier Gate quote cited by Odaily showed 153.480 and a 0.3% 24-hour decline. Investors awaited US Producer Price Index (PPI) data due on the 10th, Consumer Price Index (CPI) data due on the 11th, and next week’s Federal Open Market Committee (FOMC) meeting, with the releases potentially affecting expectations for the timing and pace of interest-rate cuts.

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