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USD/JPY Off Nearly 100pips From Earlier Highs

JPY

USD/JPY has given up a good chunk of its earlier gains. The pair touched a high at 132.56, but we now sit nearly 100pips lower, last around 131.60/65. This is around 0.3% weaker in yen terms versus NY closing levels from Friday (131.19).

  • There haven't been many fresh developments on the news story around Deputy Governor Amamiya as Kuroda's potential successor. He didn't respond to questions posed by reporters on the issue, while Finance Minister Suzuki stated he has been 'out of the loop' on the BoJ nomination.
  • BoJ Governor Kuroda is scheduled to appear in parliament at 10:50am local time.
  • USD sentiment elsewhere has softened a touch, with AUD and EUR back in positive territory for the session. This may simply reflect USD/JPY moving off its highs rather than anything else.

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