Attention is focused on the direction of the USD/JPY pair, which is trading around 160 yen amid a weakening U.S. dollar

With the U.S. dollar weakening, all eyes are on the direction of the dollar-yen exchange rate around the 160-yen level

15.06.2026

In the U.S. currency market on the previous business day, the preliminary reading of the University of Michigan’s June Consumer Sentiment Index improved to 48.9 from the previous reading of 44.8, prompting market participants to take note of the recovery in consumer sentiment.On the other hand, as the week began, concerns over the situation in the Middle East eased amid speculation of a peace agreement between the U.S. and Iran, causing demand for the U.S. dollar as a safe-haven asset to wane. The dollar-yen pair traded within a range of 159.95 to 160.38 yen in the Tokyo market and stood in the upper 160.20 yen range as of 5:00 p.m.Currently, the pair continues to trade around the 160.00 level, with resistance likely to be found in the 160.50 to 160.70 range. On the downside, the focus is on whether the pair can hold above 160.00; if it breaks below this level, a decline toward the 159.50 area should be watched for.Today, the U.S. June New York Fed Manufacturing Index and U.S. May Industrial Production are scheduled for release, and we will be watching to see if they signal a change in the direction of the U.S. dollar.

In the European currency market, the euro held steady against the dollar following the European Central Bank’s (ECB) rate hike the previous week.Supported by the broader trend of a weaker U.S. dollar, the euro/dollar pair traded within a range of 1.1559 to 1.1584 in the Tokyo session and stood in the upper 1.1560s as of 5:00 p.m.At the start of the week, the pair briefly tested the 1.1600 level, and key resistance and support levels are likely to be around 1.1600 to 1.1630 on the upside and 1.1560 to 1.1530 on the downside.While the ECB raised its policy rate last week, the view that future policy decisions will depend on data persists; we will be watching the euro’s reaction to today’s remarks by ECB President Lagarde and the release of the eurozone’s April industrial production figures.

Today's economic indicators include Germany's May Wholesale Price Index (WPI) at 3:00 p.m.,the Swiss May Producer Import Prices at 15:30, the Swiss May SECO Consumer Confidence Index at 16:00, remarks by European Central Bank (ECB) President Lagarde at 16:30, the Eurozone April Industrial Production and April Trade Balance at 18:00,Canada’s May Housing Starts at 21:15, the U.S. June New York Fed Manufacturing Index at 21:30, U.S. May Industrial Production and Capacity Utilization at 22:15, and the U.S. June NAHB Housing Market Index at 23:00.In particular, during European trading hours, the ECB President’s remarks and Eurozone industrial production are likely to be key drivers, while during New York trading hours, U.S. manufacturing-related indicators will likely be key drivers; we should carefully monitor the reactions of the U.S. dollar, the yen, and the euro.