Concern over the Bank of Japan's accelerated rate-hike pace led to the USD/JPY sliding to the low-150s.
【9/7Market Overview
In Tokyo time, the USD/JPY traded with little net movement around156yen. In European time, USD/JPY sold off due to concerns that the Bank of Japan could accelerate its rate hike pace. After briefly breaking the previous day’s low155.29yen, stops were triggered, and briefly dipped to154.05yen,2/23level. With the US markets closed for Labor Day and liquidity thin, USD/JPY retraced to154.47yen and then remained around the154.30yen area, becoming range-bound.
【9/8Market View