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USD/JPY To Fresh Highs For The Week

JPY

USD/JPY's steady climb has continued, the pair close to session highs in recent dealings (144.80/85, against a high of 144.94). The high puts us marginally above Monday highs, but we are still some distance from the post NFP spike last Friday, which took the pair close to 146.00.

  • Yen is weaker by around 0.30% at this stage versus end Tuesday levels, underperforming the rest of the G10, particularly the AUD. AUD/JPY is up around 0.55%, putting the pair back to the 97.10/15 level, just below Monday highs.
  • AUD/USD has firmed back above 0.6700.
  • US yields have edged higher as the session has progressed today, although more so at the back end. This may be marginally weighing on yen, with US-JP 10yr yield differentials skewed higher. The early earnings data miss is also supportive of these trends.
  • Other cross asset signals are fairly muted.

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