Forex
Tokyo FX Market Dances on Edge of US Inflation Data
The Tokyo foreign exchange market on August 11 saw major currency pairs trading in narrow ranges as investors awaited the release of U.S. Consumer Price Index (CPI) data.
Dollar-yen was stuck at 154.38 yen, approximately 4 sen weaker for the dollar compared to the New York close of 154.42 yen.
The pair's range was around 40 sen, with brief spikes to 154.61 yen before being pushed back down to 154.21 yen.
Investors are cautious ahead of the CPI data release, which could influence expectations for an additional rate hike at next week's Federal Open Market Committee (FOMC) meeting.