Dollar holds near 150 yen as central bank policy, data deluge awaited
© Reuters. FILE PHOTO: Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo
A PMI data deluge, inflation figures in the euro zone and U.S. nonfarm payrolls also add to the mix of the event-packed week. A recent surge in global interest rates has heightened pressure on the BOJ to change its bond yield control, as speculation mounts that the dovish central bank could hike its existing yield cap at this week's meeting.
Over the weekend, Israel signalled intent to encircle Gaza's main city, publishing pictures of battle tanks on the Palestinian enclave's western coast as conflict in the Middle East raged. While expectations are for the Fed to leave interest rates on hold when it announces its policy decision later in the week, markets are pricing in a roughly 19% chance of a hike in December, according to the CME FedWatch tool.
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