The flight of capital to the safe-haven yen subsided following Stephen Bannon’s ousting from the role of a senior White House adviser. The departure of Bannon, known for his economic nationalist views, is likely to diminish tensions within the White House and the Republican Party. Federal Reserve Chairwoman Janet Yellen and the European Central Bank’s Mario Draghi will be among a host of top officials addressing this year’s annual central banking conference at Jackson Hole, Wyoming that kicks off on Thursday.
On the U.S. economic data front, the University of Michigan's Consumer Sentiment Index rallied to its highest in seven months, reflecting greater confidence in the economic outlook. USDJPY is marginally lower in Monday morning trade. The pair was last seen around 109.200.