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USD and JPY traded in a sluggish manner on....>

FOREX
FOREX: USD and JPY traded in a sluggish manner on Monday as equities clawed back
some lost ground, as JPY lagged its G10 peers. The session was light on data and
news flow, but volumes were relatively healthy ahead of the elongated holiday
weekend.
- USDJPY recovered from fresh 2018 lows of 104.56 to retake 105 and extend to
last trade at 105.50, with Japanese banks rumoured to be buying AUDJPY in
Monday's Asia session, subsequently driving JPY weakness before the equity
rally.
- Both EURUSD and GBPUSD rallied sharply on the broader USD weakness, as
realised vol came well in front of implied on Monday.
- NOK outperformed as the currency caught up with a strong Brent oil streak last
week and as Fitch affirmed Norway's AAA rating on Friday.
- Focus in Asia will fall on comments from FOMC Gov. Quarles, while former
Japanese Tax agency chief Sagawa is expected to testify on the Moritomo scandal
at some point today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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