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USD/JPY Tests Below Monday Lows

JPY

Yen has continued to strengthen. USD/JPY was last in the 143.60/65 region, down around 0.40% from opening levels and testing Monday session lows.

  • There doesn't appear to be any fresh catalyst for this move lower, with US TSY futures relatively steady. Broader USD sentiment is softer, although the yen is outperforming. The BBDXY last near 1221.
  • Note we have a 143.60 option strike (for $1.16bn) expiring later, which could also influence spot.

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