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FOREX: USDJPY Falls into Negative Territory on Session

FOREX
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  • With US yields edging lower alongside the broader negative reaction for ‘Trump trades’ following the WaPo report, USDJPY has fully reversed the prior session rally. Spot traded back below 157.00, and briefly extended its selloff to around 110 pips.
  • Plenty of room on the downside should pressure on the greenback persist, with support for USDJPY not seen until 155.89, the 20-day EMA.
  • As a reminder, Governor Kazuo Ueda said the BOJ will raise its benchmark interest rate to adjust the degree of easy policy if the improvement in the economy and prices continues, Nikkei reported Monday. Ueda said that the timing of policy adjustments will depend on future economic, price and financial conditions and the BOJ must pay attention to various risk factors.
  • US Final Services PMI, Durable Goods and Factory Orders are all due for release today, and FOMC Member Cook will speak at the Conference on Law & Macroeconomics.
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  • With US yields edging lower alongside the broader negative reaction for ‘Trump trades’ following the WaPo report, USDJPY has fully reversed the prior session rally. Spot traded back below 157.00, and briefly extended its selloff to around 110 pips.
  • Plenty of room on the downside should pressure on the greenback persist, with support for USDJPY not seen until 155.89, the 20-day EMA.
  • As a reminder, Governor Kazuo Ueda said the BOJ will raise its benchmark interest rate to adjust the degree of easy policy if the improvement in the economy and prices continues, Nikkei reported Monday. Ueda said that the timing of policy adjustments will depend on future economic, price and financial conditions and the BOJ must pay attention to various risk factors.
  • US Final Services PMI, Durable Goods and Factory Orders are all due for release today, and FOMC Member Cook will speak at the Conference on Law & Macroeconomics.