Dollar/yen rose to 158.40 yen on the back of strong U.S. economic data.

【9/23Market overview

Tokyo time, Japan being a holiday, USD/JPY was moving in a narrow range around mid to upper 157 yen157level. In European trading, USD/JPY rose as crude oil futures climbed amid uncertainty over Middle East tensions157.99yen.In theNew Yorktime,thePMIfor US manufacturing and services unexpectedly beat expectations, raising expectations of additional rate hikes by the Fed, pushing up US Treasury yields in tandem with dollar buying. The yen’s rate check was conducted9/18high158.05yen, briefly158.40yen.

【9/24Market outlook