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Firmer, Higher Against NZD & AUD, NZD/JPY Back Below 84.00

JPY

USD/JPY has continued to track lower after starting the session firmer as we headed into the Tokyo fix. The pair was last around 132.70/75, around -0.30% below NY closing levels. We now sit right on the 50-day EMA (132.71).

  • At the margin, a slight pullback is US cash Tsy yields is helping (-0.4-1.2bps across the curve), while lower US equity futures may also be aiding on a cross basis. Yen is higher against both AUD and NZD, slightly more so against NZD.
  • NZD/JPY is back below the 84.00 level, with some resistance ahead of 84.50 in recent sessions.

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