Dollar/yen falls to as low as 147.10 yen on weaker-than-expected US PPI forecasts.
【9/10Market Overview
Tokyo time, USD/JPY5・10Day (go-to day) and as the interbank rate approached, expectations of dollar buying and higher US Treasury yields in after-hours lifted the pair10to around147.57yen, before easing to around147.40yen with little movement. In European trading, USD/JPY hovered around mid-147 yen.NYtime,8month USPPIfor▲0.1% vs. forecast2.6% year-on-year and0.3% vs. prior3.3% YoY, undershooting forecasts. The core index excluding food and energy also fell▲0.1% vs. last month and2.8% YoY, against expectations of0.3% and3.5% respectively, undershooting. USD/JPY briefly dropped to around147.10yen, but was soon bought back to147.64yen. Afterward, the pair traded in a range around147.40yen with no clear direction.
【9/11Market View