JPY still in a tailspin - Wednesday's.........>

FOREX: JPY still in a tailspin

- Wednesday's market rout of the JPY has held well early Thursday, with USD/JPY

rising further still and showing above Y112.00 for the first time since April

last year. The rally's continued with little rhyme or reason, as the pair has

now completely decoupled from other risk assets. Equities are flat-to-lower in

Europe and Treasury yields are slightly lower.

- UK retail sales drew some focus as the market still seeks hard data to

underpin stronger survey-led numbers. Retail sales were firmer than expected,

which gave only brief reprieve to a GBP/USD rate that remains weak.

- AUD and NZD are the poorest performers ahead of the NY crossover. The moves 

follow a modest deterioration in AUD jobs numbers, as the unemployment rate

unexpectedly edged higher as the economy shed part-time employment contracts.

AUD/USD renewed the 2020 downtrend, hitting the lowest levels since 2009 in the

process.

- Weekly jobless claims and Philly Fed numbers are the data highlight Thursday.

ECB's de Guindos is due to speak as well as Fed's Barkin.