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USD/JPY Shies Away From Run At Y115.00 Round Figure

JPY

USD/JPY ground lower Tuesday as a slight deterioration in broader risk sentiment and an impressive bounce in Japan's manufacturing production provided a tailwind for the yen. The rate moved away from the nearby Y115.00 mark as a result.

  • Industrial output soared 7.2% M/M in November, marking the largest monthly gain since the data series began in 1978, beating BBG median estimate of +4.8%.
  • Osaka confirmed a cluster outbreak of Omicron coronavirus variant at a local elderly facility. As Japan is trying to contain the spread of the new variant, PM Kishida told Kyodo News on Tuesday that the gov't considers bringing forward booster jabs for all residents.
  • USD/JPY last operates at Y114.77, 6 pips lower on the day. Bears look to a sell-off past Y113.14, which represents the low print of Dec 17. Bulls keep an eye on Tuesday's high/aforementioned round figure at Y114.95/115.00 and a break here would expose Nov 24 cycle high of Y115.52.
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