The USD/JPY currency pair remained steady near 158.36 yen at the start of the week as traders awaited the release of US Consumer Price Index (CPI) data. According to FX Street, the Japanese Yen traded almost flat against the US Dollar during this period.
FX Street also reported that the USD/JPY pair has been confined within a narrow range between 156.38 and 158.51 yen for almost two weeks, reflecting subdued volatility in the market. This tight trading band suggests cautious positioning ahead of key US economic indicators.
For Japanese investors and FX market participants, the ongoing stability in USD/JPY comes amid broader concerns over inflation trends and monetary policy divergence between the Bank of Japan and the US Federal Reserve.