Due in part to the U.S. stock market being on holiday for Good Friday, the U.S. dollar-Japanese yen rate showed no clear direction throughout the day. The price remained within a narrow range above 151 yen.

The Personal Consumption Expenditures (PCE) indicators for February, which were announced on Friday, were more or less in line with forecasts and did not present any surprises.

Today the yen started trading at around 151.31, but the market inherited the range-bound aspect of the second half of the previous week.

Looking at the 60-minute chart of the yen (as of 14:05 on April 1), the price moved within the extent defined by the two horizontal lines drawn at the top and bottom. The width of the Bollinger Bands, which stayed mostly at the same level, also confirms that volatility remained unchanged.

(20-period Bollinger Band, showing +1 SD, +2 SD)

Today's main economic indicators are as follows.

• 22:45 U.S. March Manufacturing Purchasing Managers Index (PMI, revised)
• 23:00 U.S. March ISM Manufacturing PMI