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USD/JPY Eases Off After Lurking Above Y121.00, AUD Goes Offered

FOREX

USD/JPY has backed off into the Tokyo fix after a foray above the Y121.00 figure to a fresh six-year peak. The yen went offered in early Tokyo trade before clawing back some losses, with nothing in the way of fresh headlines driving it on either swing. Note that technical indicators suggest that USD/JPY is heavily overbought.

  • The AUD has taken over as the worst G10 performer. Sales of the Australian dollar have dragged AUD/USD away from multi-month highs printed this morning.
  • Sterling has garnered some strength ahead of some key risk events slated for today. EUR/GBP hovers just above the GBP0.8300 mark.
  • The European docket will be fairly UK-centric, with monthly inflation data and the Spring Statement ("mini-budget") from C'llr Sunak.
  • Elsewhere, EZ consumer confidence & U.S. new home sales as well as plenty of central bank speak will take focus later today.

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