USD/JPY and US retail sales forecasts miss expectations, but the yen remains on a depreciation trend.

【8/14Market Overview

Tokyo time, the dollar/yen rose to as high as159.51yen, but eased as positions were adjusted. Reports that the Bank of Japan could propose a rate hike as early as9month and accelerate the pace were circulated, pushing it down to159.14yen. In European time, the dollar/yen continued to soften.NYtime,7month US retail sales came in below expectations, and along with a decline in the benchmark 10-year US Treasury yield, broad-based dollar weakness led the dollar/yen to158.59159.40yen, but after the selling pressure subsided, the 10-year yield rose and Japanese fundamentals suggested dollar weakness would fade, pushing it up toyen.

【8/17Market View