USD/JPY traded within a range from the mid-146s to the mid-147s.

【8/7Market Overview

In Tokyo time, the dollar/yen rose to around 147.71 yen due to the real money buying at the fix and a firm Nikkei Average,147.71then paused at 147.06 yen. In European hours, the dollar/yen fell as expectations for U.S. rate cuts grew,147.06dropping to 146.69 yen, but then recovered.NYtime, the dollar/yenNYrose as the U.S. Federal Reserve Board’s published7month expected inflation rate increased,147.58yen to rise to. Toward the close, reports that the White House was preparing to nominate Steven Mnuchin as chairman of the President's Council of Economic Advisers (CEA) to the Federal Reserve Board (FRB) led to broad dollar selling, and the dollar/yen fell toFRB.CEA) headlines,146.95yen.

【8/8Market View