Free Trial

Pervading Risk-Off Drives USD/JPY to New Lows

JPY
  • The latest risk-off move fuelling further losses for USD/JPY in recent trade, with the pair touching fresh lows at 148.53, opening Thurs/Fri lows at 148.26/36. The downtick in spot puts prices among the more sizeable expiries for tomorrow's NY cut, with $952mln set to roll-off between Y148.50-75.
  • Moves coincide with further strength in Treasury futures (recall cash markets closed) as prices hold just below the earlier highs of 107-22+.
  • Risk-off triggered by firmer oil prices and concerns around any spillover from the Israel/Gaza conflict remain the key drivers for price action Monday, with liquidity and volumes likely stemmed by the public holiday in the US.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.