USD/JPY slides back toward 153.00 as yen surges and oil nears $100
USD/JPY was dragged back toward 153.00 on September 9 as the yen surged. The source does not give a percentage or pip figure for the move. Crude oil moved toward $100 a barrel at the same time, adding to market turmoil. The European Central Bank is expected to add 25 basis points to rates. The US CPI report is still ahead. Oil shocks and Fed hike bets were also cited among the forces driving the market. For traders, 153.00 is the level USD/JPY is approaching. The US CPI release and the ECB decision are the key near-term events that could affect rate expectations and drive further volatility in yen and dollar pairs.
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