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USD/JPY Edges Through 108.50 to New Lows

JPY

JPY the latest currency this morning to break higher, with USD/JPY slipping to new session lows and briefly showing below the Y108.50 mark.

  • As has been the case with moves earlier this morning (EUR's break lower, CHF's break higher) the move hasn't been triggered by any specific newsflow or headline, with markets erring bearishly from the off. E-mini S&P hitting new daily lows to coincide with JPY strength here.
  • Key near-term support for USD/JPY undercuts at 108.34, the Mar10 low.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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