USD/JPY Pulls Back from the 160-yen Level; Will the Dollar's Strength Continue Following the U.S. PPI Report?
13.11.2026
- Revised GDP Figures for the Eurozone for the July–September Quarter
- U.S. October Producer Price Index (PPI)
In the U.S. currency market the previous day, long-term interest rates rose sharply as trading resumed in the U.S. bond market, causing the U.S. dollar to strengthen against major currencies.The yield on the 10-year U.S. Treasury note rose to around 5.13%, and the dollar-yen pair was bought up to 160.05 yen, but subsequently fell back to around 159.33 yen due to concerns over potential intervention.It closed around 159.84 yen. U.S. initial jobless claims came in at 200,000, exceeding the forecast of 194,000, and attention remains focused on the labor market. Ahead of tonight’s U.S. PPI release, we want to assess whether the dollar’s strength is sustainable.
European currencies rose after the preliminary UK GDP figures for the July–September quarter showed a 0.7% increase quarter-over-quarter and a 1.9% increase year-over-year, in line with market expectations, indicating that growth had accelerated from the previous quarter.However, the U.S. dollar gained ground, causing the GBP/USD pair to fall from around $1.3283 to around $1.3221, before closing at around $1.3235.The euro also fell from around $1.1103 to around $1.1046, closing at around $1.1055. European stocks rose slightly, but differences in interest rate outlooks between Europe and the U.S. capped gains in European currencies.
Today’s economic data includes the release of the revised Eurozone GDP figures for the July–September quarter at 7:00 p.m. GDP is forecast to grow 0.4% quarter-over-quarter and 1.3% year-over-year, and the focus will be on the revisions from the preliminary estimates.In the U.S., the October PPI is scheduled for release at 10:30 p.m., with the headline index expected to rise 0.4% month-over-month and the core index 0.3% month-over-month. At the same time, Canada’s September manufacturing shipments and wholesale sales figures are also due, providing catalysts for North American currencies. We’ll be watching to see how the interest rate differential between Europe and the U.S. is perceived ahead of the weekend.
