Free Trial

USD/JPY Recoups Post ISM Losses

JPY

USD/JPY has recovered its post ISM dip from Monday's NY session. The pair has continued to grind higher, last in the 132.90/95 region. This is 0.35% weaker versus NY closing levels. We were sub 132.20 earlier in the session. Broader USD sentiment has turned around, although the yen is the weakest performer in the G10 space.

  • Yen weakness is in line with US yields pushing higher through the session, but recent US yield moves have potentially been led by Japan (i.e. the poorly received 10-year JGB auction).
  • The US-JP 10yr swap differential is a touch lower for the session, close to +246bps, we were at +247bps at the Monday close and +254bps at the end of last week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.