Dollar/Yen dips on softer US CPI forecast but recovers as US manufacturing and service PMI forecasts beat expectations.

【10/24Market Overview

Tokyo time, USD/JPY saw dollar buying at the closing spot rate (5・10th), and with the Nikkei average rising, risk-on sentiment emerged and the pair rose to around153.06yen. In European hours, USD/JPY remained little changed in the high 152 yen area ahead of theCPI release (Consumer Price Index).152yen vicinity. In New York time,9th month USDCPI％(consensus0.4％) year over year3.0％ (consensus3.1％), excluding energy and food, core CPI rose 0.2%％ (consensus0.3％) and was up 3.0%（％3.1％） on a year-over-year basis; overall the data underperformed expectations, leading to yen buying and dollar selling, with a brief drop to around152.22yen. After the initial selling pressure eased, buying returned.10月 US manufacturing and servicesPMI and services PMI came in higher than expectations, prompting a rally in USD/JPY back to around153.01yen.

【10/27Market View