Japanese Yen: Range-bound against US Dollar as markets price BoJ hike – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret describe the Japanese Yen (JPY) as quiet, extending a tight consolidation as markets gradually price a 25 bp Bank of Japan (BoJ) hike for September 18.
Japanese Yen (JPY) remains relatively calm as markets gradually value a 25 basis point Bank of Japan (BoJ) rate increase scheduled for September 18, according to Scotiabank strategists Shaun Osborne and Eric Theoret. The Yen is consolidating within a narrow range, with the USD/JPY chart showing a flat range between support at 158.00 and resistance in the mid/upper-159s.
Despite hawkish messaging from the BoJ, traders are still assessing the tone for potential further tightening into 2027. Limited fundamental releases and consistent hawkish BoJ communications have helped manage expectations for the hike. As market participants evaluate policymakers’ tone and consider additional tightening later in 2027, the Yen's range-bound behavior continues.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
