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Dollar strength keeps USD/JPY in a 156–159 range

The pair briefly slipped under 158.5 after caution about possible Japanese intervention and remarks from Finance Minister Satsuki Katayama.

Reported · Written up by our desk · Major Pairs

MUFG’s Teppei Ino reviewed USD/JPY performance during Japan’s extended holiday week, noting the pair opened near 157 and traded in a broad 156 to 159 range as the US dollar stayed supported.

He attributed USD/JPY gains to persistent dollar strength, alongside expectations that a Federal Reserve rate hike could come earlier than previously anticipated.

Despite that backdrop, the report said caution over potential Japanese intervention, plus comments from Japan’s Finance Minister Satsuki Katayama, helped push USD/JPY back below 158.5.

The analysis also pointed to overall dollar support from markets pricing an October Fed rate hike, with the FXStreet coverage adding that US yields were held near multi-year highs amid inflation concerns tied to higher oil prices.

Latest closeUSD/JPY 157.19 ▼0.7%

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