USD/JPY Falls as Yen Recovers on 80% Odds of 18 September BoJ Hike
USD/JPY is moving lower as the Japanese yen stages a recovery. The source does not report a specific price, pip move or technical levels. The main driver is monetary policy expectations. Markets are pricing an 80% probability that the Bank of Japan will raise interest rates at its 18 September meeting, which is supporting the yen against the US dollar. The next key catalyst on the calendar is the US August CPI report, due on 11 September. That release is the next major input for the US side of the pair before the BoJ decision. For traders, the combination of high BoJ hike pricing and an upcoming US inflation print makes USD/JPY sensitive to both events. The US CPI data on 11 September and the BoJ outcome on 18 September are the scheduled points to watch for further direction in the pair.
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