USD/JPY briefly in the 147 yen range after expectations of earlier Bank of Japan rate hikes cooled.
【10/3Market Overview
Tokyo time, as expectations for an early rate hike by the Bank of Japan faded, dollar buying led to the dollar/yen rising temporarily to147.24yen before retreating on position adjustment to around146.40yen. In European trading, the dollar/yen was pressured to about146.29yen due to anticipated selling by Japanese exporters, but then failed to decline further.NYSEtime,9month ISMNon-ManufacturingComposite54.9surpassed expectations of51.7to the upside, lifting the dollar/yen to147.17yen. Afterward, due to concerns about the Middle East tensions, the dollar/yen hovered in the upper 146s.146around the high 146s to the low 147s.
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