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USD/JPY Gains Into Tokyo Fix

JPY

USD/JPY popped higher into the Tokyo fix, printing fresh session highs at Y106.07 and narrowing in on Y106.11, which capped gains on Wednesday. Failure to attack the Y106.11 level resulted in a mild pullback, which has USD/JPY trading +13 pips at Y106.01 as we type.

  • Little in the way of fresh market-moving headlines seen on the wires, while familiar technical picture remains in play.
  • USD/JPY implied volatility has firmer up, with 1-week tenor trading at 6.5125, through yesterday's peak & near six-week highs printed earlier in the session.
  • The yen remains the worst G10 performer.

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