Yen Weakness Continues Even After BOJ Rate Hike; USD/JPY Hovers Around 157 Yen
21.09.2026
- Remarks by Goolsbee, President of the Chicago Fed
- Deutsche Bundesbank Monthly Report
In the U.S. currency market on the previous trading day, the U.S. dollar held steady as the yield on the 10-year U.S. Treasury note briefly exceeded 5%.The dollar-yen pair rose as high as 158.05 yen as yen selling intensified following the Bank of Japan’s rate hike. It subsequently fell back to the upper 156-yen range after reports emerged that Japanese authorities were monitoring the exchange rate. With strong concerns about currency intervention in the 157-yen range, nervous trading is likely to continue at the start of the week.
Among European currencies, the pound rose slightly after the UK’s August retail sales rose 0.5% month-over-month, beating market expectations of a 0.2% decline.In addition to confirming the resilience of the UK economy, speculation surrounding monetary policy continues to influence the pound’s exchange rate. We will be watching to see if the pound/dollar pair can clearly break above the $1.34 level.
In addition to the release of the Deutsche Bundesbank’s monthly report today, remarks by Chicago Fed President Goolsbee are scheduled for 7:30 p.m., followed by the release of the U.S. Chicago Fed National Activity Index for August at 9:30 p.m. Amid ongoing speculation regarding the monetary policies of major economies, we will be monitoring the reactions of the interest rate and foreign exchange markets to these remarks by key officials.
Author: Keisuke Sakurai
