Dollar/yen hovers with small moves, holding around 158 yen amid lack of new material.

【10/16Market Overview

Tokyo time, the USD/JPY rose on the back of the outside-the-hours rise in the U.S.1010-year Treasury yields158.18climbed to around 158.18 yen, but then, in response to remarks from WhewellFRBchairman indicating that the Fed will achieve price stability and that “FRBwill not be biased by the result of the FOMC,” the lightened expectation for near-term rate hikes did not materialize, causing the U.S.10yields to retreat, with USD/JPY falling to157.79yen. In European trading, it briefly dropped to157.69yen, but later rebounded. In New York time, the U.S.10year Treasury yields rose again, lifting USD/JPY to158.33yen.

【10/19Market View