USD/JPY steady in tight range – BBH

USD/JPY trades mid-range after the US Treasury and Japan’s Finance Ministry reaffirmed that exchange rates should be market determined. The rare joint statement, the first since 2022 to mention FX, underscored opposition to competitive devaluations, BBH FX analysts report.

Pair holds between 146.20–149.00 since August

"USD/JPY is up near the middle of its 146.20-149.00 range that has held since early August. The US Treasury and Japan’s Finance Ministry released a joint statement on macroeconomic and foreign exchange matters."

"The statement reaffirmed that exchange rates 'should be market determined' and not manipulated 'to gain an unfair competitive advantage.' The last joint statement between the US Treasury and Japan’s Finance Ministry was in July 2022, and it made no reference to foreign exchange."

Sep 12, 2025

AUD/USD: Likely to strengthen further but is unlikely to reach 0.6700 – UOB Group

Australian Dollar (AUD) is likely to strengthen further but is unlikely to reach 0.6700. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

IEA foresees massive oversupply on the oil market – Commerzbank

The International Energy Agency expects a massive supply surplus on the global oil market of 3.33 million barrels per day on average in the coming year, based on its forecasts, Commerzbank's commodity analyst Carsten Fritsch notes.