{
  "id": 5284875,
  "title": "Forex Today: Japanese Yen extends rally, markets await US data",
  "url": "https://urgent.news/2026/09/03/forex-today-japanese-yen-extends-rally-markets-await-us-data",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T08:27:28.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/forex-today-japanese-yen-extends-rally-markets-await-us-data-202609030827"
  },
  "original_language": "en",
  "account": "On Thursday, September 3, the Japanese Yen (JPY) continued its upward trend in the European session, building upon Wednesday's impressive rally. This strength was evident when the US economic calendar included weekly Initial Jobless Claims data and the Institute for Supply Management's (ISM) Services Purchasing Managers Index (PMI) report for August. During the day, the Japanese Yen was the strongest against the New Zealand Dollar, with other notable movements shown in the table provided.\n\nDespite a sharp decline in USD/JPY during US trading hours on Wednesday, losing around 1% in under 30 minutes, the pair remained under bearish pressure and traded near its lowest level in a month, below 157.00. EUR/JPY and GBP/JPY also experienced losses, falling 1% and more than 1% respectively, to around 182.00 and 212.00.\n\nAnalyysts at ING believe that both US and Japanese authorities likely found satisfaction with the latest currency market moves, suggesting that policy dynamics still favor the Dollar in the short term. ING points to a possible Fed hike in mid-September, which could keep USD/JPY relatively strong this month. Additionally, Deutsche Bank highlights that Japan's services sector expanded at its fastest pace in five months in August, adding support for further Bank of Japan (BoJ) policy tightening.\n\nMeanwhile, US President Donald Trump mentioned on Wednesday that the renewed campaign against Iran would not continue for too long, hinting at the possibility of another attack on Iran. The US Dollar (USD) Index continued its downward trend, trading below 99.50, and strategists at ING noted that latest US data had little impact on the broader policy narrative, with a slight decrease in market conviction of a September Fed hike. Looking ahead, ING forecasts that the ISM services report is expected to be flat at 54.1, and they caution that the main risk remains higher back-end yields potentially prompting Treasury intervention and a revamp of the debasement trade.",
  "summary": "Here is what you need to know on Thursday, September 3:",
  "key_points": [
    "Japanese Yen extends rally, gaining against major currencies",
    "Markets await US economic data, including ISM PMI report",
    "Analysts suggest Fed hike in mid-September may support USD strength"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}