Dollar/yen small moves, centered in the upper 159 range.

【8/31Market Overview

In Tokyo time, USD/JPY touched a high of160.20yen, but afterward, due to the decline in the U.S. 10-year bond yield outside of market hours, it fell to159.73yen. In European time, USD/JPY briefly dropped to159.47yen, but buying returned. In New York time, USD/JPY rose to159.89yen, but with selling against the euro observed at the Longfin (London fixing), the upside weakened. Also, after U.S. Treasury Secretary Janet Yellen stated that “the Japanese government and BOJ will take actions that could lead to yen appreciation,” the pair fell to159.58yen, and afterward, buybacks came in, with little movement around the upper 159s.159yen range.

【9/1Market View