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JPY Pressured In Early Trade

FOREX

Yen is softer this morning, USD/JPY was initially offered however the move has now reversed and the pair deals ~0.2% firmer. Elsewhere in G-10 moves are limited with little follow through, general liquidity has been hampered as Australia and New Zealand remain closed for the observance of national holidays.

  • USD/JPY prints at ¥132.40/50 ~0.2% firmer. Japan's Current Account Balance printed below expectations at ¥2197.2bn. Japanese investors bought the most US Sovereign Bonds in 3 years in February.
  • The antipodeans are little changed from opening levels, there have been little follow through on moves and narrow ranges thus far.
  • Cross asset wise 10 Year US Treasury Yields are 2bps lower, e-minis are little changed. BBDXY is ~0.1% firmer.
  • The data calendar is thin for the remainder of the session.
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