Free Trial
AUSSIE BONDS

AOFM Weekly Issuance Slate

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

JPY Surges Against USD And On Crosses

FOREX

JPY outperformance was the dominant theme during Thursday's post-Asia trade, rising just under 1.3% against the USD, and sharply outperforming on a cross basis.

  • USD/JPY fell to a low of close to 127.50 before rebounding, last dealing around ~128.50.
  • Lower US yields, with the 2yr down 8bps and 10yr sub-2.85%, aided the JPY move, although a late recovery for US equities trimmed USD and JPY gains.
  • Liquidation in crosses like AUD/JPY also helped. This pair fell to sub 88.00 before stabilising (-2.44% in the past 24 hours). We were as high as 91.75 in the previous session.
  • The DXY still managed to surge to fresh highs despite JPY strength. We got close to 105.00, before closing around 104.75. This reflected Euro weakness, down through 1.04.
  • A$ and NZ are off by more than 1% vs. the USD in the past 24 hours.
139 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

JPY outperformance was the dominant theme during Thursday's post-Asia trade, rising just under 1.3% against the USD, and sharply outperforming on a cross basis.

  • USD/JPY fell to a low of close to 127.50 before rebounding, last dealing around ~128.50.
  • Lower US yields, with the 2yr down 8bps and 10yr sub-2.85%, aided the JPY move, although a late recovery for US equities trimmed USD and JPY gains.
  • Liquidation in crosses like AUD/JPY also helped. This pair fell to sub 88.00 before stabilising (-2.44% in the past 24 hours). We were as high as 91.75 in the previous session.
  • The DXY still managed to surge to fresh highs despite JPY strength. We got close to 105.00, before closing around 104.75. This reflected Euro weakness, down through 1.04.
  • A$ and NZ are off by more than 1% vs. the USD in the past 24 hours.