FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/JPY Creeps Higher, 1 Week Risk Reversal Comfortably Above Pre BoJ 2023 Lows

JPY

USD/JPY has crept higher in recent dealings. The pair last around session highs at 148.30/35. Earlier dips sub 148.00 (session lows at 147.94), were supported. Upside focus will rest on Jan 17 highs at 148.52.

  • Fresh yen weakness has been aided by US yield gains, although the 10yr UST sits off session highs, last near 4.16%, close to +2bps firmer. The US-JP 10yr yield differential sits at +351bps, fresh multi week highs.
  • Regional equity sentiment is positive, with positive gains across most indices. AUD/JPY is around +0.30% higher, the pair last near 97.65.
  • Our Tokyo based policy team doesn't see the BoJ changing stance next week (see this link for more details).
  • The 1 week USD/JPY risk reversal sits at -1.255. This is above lows seen in 2023 ahead of other BoJ meetings, so FX markets aren't pricing in an aggressive BoJ surprise either.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.