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USD/JPY Dips To Two-Week Low

JPY

USD/JPY went offered Wednesday as the greenback lost altitude with U.S. Tsy yields ahead of the WMR fix, with U.S. President Biden's inauguration going smoothly. The rate fell to its worst levels in two weeks.

  • A Kyodo report noted that Pfizer's Covid-19 jab may get a fast-track approval at the meeting of a Health Ministry panel on Feb 15.
  • The BoJ delivers its MonPol decision today and seems poised to leave its monetary policy settings unchanged.
  • The rate trades flat at Y103.54 at typing. A fall through Wednesday's low of Y103.45 would open up Y102.95, the low print of Jan 7. Conversely, gains past Jan 11 high of Y104.40 would bring the upper 1.0% 10-DMA envelope at Y104.86 into play.
  • Elsewhere, local trade data hits today, while national CPI comes out tomorrow.
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