The dollar/yen pair traded in a narrow range on Monday, as investors held their breath ahead of crucial economic data releases from both the United States and Japan. The market is keenly anticipating these figures, which are expected to provide insights into the health of the respective economies and potentially trigger significant movements in the currency pair.
Analysts suggest that stronger-than-expected US data could bolster the dollar, while positive Japanese figures might lend support to the yen. Conversely, weaker data could weigh on the respective currencies.
Key data releases to watch include:
- US Non-Farm Payrolls
- US Unemployment Rate
- Japanese GDP
- Japanese Inflation Data
Traders are advised to exercise caution and closely monitor these releases, as they are likely to inject volatility into the dollar/yen market.
