The dollar at 3 p.m., remained flat at mid-161 yen, awaiting US CPI
July 11, 2024 at 3:57 PM GMT+9 (some excerpts)
The dollar/yen at 3 p.m., was traded in the middle of 161 yen, unchanged from the end of the New York market the day before. Although price movements were slow ahead of the announcement of the notable US Consumer Price Index (CPI) tonight, there was no change in the depreciation of the yen, such as the euro/yen hitting a new high.
The dollar was in the middle of 161 yen and trading intersected, and the price range in the Tokyo market remained small, about 30 yen up and down. In the market, attention is being paid to whether it will test the high price of 161.96 yen for the first time in 38 years after the US CPI was announced.
Meanwhile, since many participants are leaning towards yen depreciation forecasts, it was also pointed out that “if (CPI results) fall below expectations and dollars are sold, there is a possibility that price movements will become even larger” (FX company officials).
The dollar was in the middle of 161 yen and trading intersected, and the price range in the Tokyo market remained small, about 30 yen up and down. In the market, attention is being paid to whether it will test the high price of 161.96 yen for the first time in 38 years after the US CPI was announced.
Meanwhile, since many participants are leaning towards yen depreciation forecasts, it was also pointed out that “if (CPI results) fall below expectations and dollars are sold, there is a possibility that price movements will become even larger” (FX company officials).
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