Dollar-Yen to Trade in Narrow Range Amid BOJ Rate Hike and FOMC Meeting

The dollar-yen is expected to trade in a range of 152.50-156.50 next week, according to market analysts.

This forecast comes as the Bank of Japan's (BOJ) monetary policy decision meeting on September 17-18 is likely to result in a 0.25 percentage point rate hike, which markets view as nearly certain.

However, some analysts suggest that yen buying may run its course on the hike decision alone, even if the BOJ does decide to raise rates.

The Federal Open Market Committee (FOMC) meeting on September 16 will also be a key event for the dollar-yen's direction, as it will determine whether the FOMC can underpin U.S. rates and support the dollar.