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USD/JPY Continues To Recover As US Tsy Futures Weaken


USD gains against the yen continue in the first part of Friday dealing. USD/JPY is now near 142.35/40, +0.35% above NY closing levels (session highs at 142.47). Highs early yesterday came in at 142.90. The broader BBDXY has risen a little over 0.10% to be above 1223.30.

  • Some softness in US Tsy futures looks to be driving sentiment, particularly with yen the weakest performer in the G10 space. (Cash Tsy yields are 2-3bps higher).
  • The USD is modestly stronger against other majors, EUR/USD has drifted down towards 1.0980, NZD/USD is back near 0.6200, AUD/USD back under 0.6700.

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