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USDJPY New Post-1990 Highs, Bullard Eyed Saturday

FOREX
  • 2Y UST yields just off session highs and 2bps off post-CPI new cycle highs of 4.53% keeps upward pressure on USDJPY.
  • It continues to hold just below session highs of 148.86 at levels last seen in 1990 after earlier clearance of the 147.66 Aug 1998 high.
  • Heading closer to the weekend with St Louis Fed’s Bullard (’22 voter) set to speak Sat at the IMF on inflation, most recent clearance of 148.42 (1.382 proj of May 24 - Jul 14 - Aug 2 price swing) has opened 149.22 (3.382 proj of the Aug 2 - 8 - 11 price swing).

Source: Bloomberg

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