Will the FOMC Meeting Minutes Change the Trend of the Rising Dollar-Yen Exchange Rate?
07.10.2026
- Germany's August Industrial Production
- Minutes of the Federal Open Market Committee (FOMC) Meeting
In the U.S. currency market the previous day, the U.S. dollar weakened against the euro and other currencies. The dollar index fell 0.3% as the yield on the 10-year U.S. Treasury note dropped to around 5.28%.Meanwhile, the yen was also weak, with the USD/JPY pair rising from the 157.70 range to the 158.20 range, closing around 158.10.During Tokyo trading hours today, the pair has extended its gains to the 158.40 yen range, and we will be watching to see if it can clearly break above the 158.50 yen level.
Among European currencies, the euro saw a rebound. The euro was also supported by a slight easing of concerns over France’s fiscal issues, which led to a decline in French government bond yields. The euro rose from around $1.1203 to around $1.1277 against the dollar and closed in the mid-$1.12 range.This rebound follows the euro’s drop to a 17-month low the previous day, and the market will be watching today’s German industrial production data to see if the recovery continues.
Today’s economic indicators include Germany’s August industrial production at 15:00, France’s August trade balance and current account balance at 15:45,the U.S. MBA Mortgage Applications Index at 20:00, the minutes of the U.S. Federal Open Market Committee (FOMC) meeting at 27:00, and U.S. August consumer credit balances at 28:00. During European trading hours, the focus will be on the euro’s reaction, and late at night, on the U.S. dollar’s reaction; we will be watching to see if the direction of the major currencies changes.
Author: Keisuke Sakurai
