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USD: Notable overnight moves in the Yen

USD
USBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • The Dollar saw a flat session overnight across all G10s, although one Currency clearly sticks out, and that's the Volatile Yen, the push higher in Yields has clearly played its part, our Overnight desk pointed to BoJ Governor Ueda appearing before parliament earlier, noting there is a risk that higher food inflation impacts inflation expectations more broadly. Ueda reiterated that further hikes will depend on the economy and price developments.
  • Also most importantly the Japanese Government has asked for an exemption on Steel and Aluminium Tariffs, with desks looking for this to be denied.
  • Tariffs risks remain the main concerns Globally.
  • USDJPY is down 0.70% post the European Cash Govie open, but USDJPY is 20 pips off the printed high right now.
  • Technically, next upside target in USDJPY is at 154.17 20-day EMA.
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  • The Dollar saw a flat session overnight across all G10s, although one Currency clearly sticks out, and that's the Volatile Yen, the push higher in Yields has clearly played its part, our Overnight desk pointed to BoJ Governor Ueda appearing before parliament earlier, noting there is a risk that higher food inflation impacts inflation expectations more broadly. Ueda reiterated that further hikes will depend on the economy and price developments.
  • Also most importantly the Japanese Government has asked for an exemption on Steel and Aluminium Tariffs, with desks looking for this to be denied.
  • Tariffs risks remain the main concerns Globally.
  • USDJPY is down 0.70% post the European Cash Govie open, but USDJPY is 20 pips off the printed high right now.
  • Technically, next upside target in USDJPY is at 154.17 20-day EMA.