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JPY Strengthens Further, Spill Over To Other G10 Quickly Reverses

FOREX

The initial spill over from JPY gains to the rest of the G10 has quickly reversed. The BBDXY got close to 1255 but is now back to 1258.75. USD/JPY hit a fresh low close to 133.10, before stabilizing somewhat, the pair last around 133.70. This is +2.4% firmer for the session in yen terms.

  • AUD/USD touched a high of 0.6744, but is now tracking lower for the session, last near 0.6695, while NZD has fallen back to 0.6355, versus post BoJ highs of 0.6395.
  • EUR and GBP are also off earlier highs.
  • Cross asset signals have been negative from the equity space, with US/EU futures lower, regional equities have also seen fresh losses. US cash Tsy yields have surged. The 10yr is back to 3.69%, +11bps for the session.
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