October 28, 2024 01:09 GMT
JPY: Yen Softens Into Tokyo Fix, End July Highs For USD/JPY Almost Reached
JPY
USD/JPY is continuing to track higher, the pair hitting fresh highs of 153.69 around the Tokyo fix. To recap, levels that could be in focus, 153.88, which is the July 31 high, the July 30th high was at 155.22. The USD/JPY RSI (14) is in overbought territory, but we haven't heard from Japan officials so far this morning. We were last near 153.50/55.
- Yen is comfortably the weakest G10 performer, off 0.80%, although all majors are now down against the USD. The BBDXY index sits at 1263.0, just off fresh multi month highs.
- US yields remain up, but off session highs, the 2yr around 4.13%, the 10yr at 4.27%, as US election risks remain in focus. US-JP yield differentials continue to track higher.
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