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Yen Firms In Asia

FOREX

The Yen is firmer in Asia today, US Treasury Yields have ticked lower on the continued impasse regarding the US debt ceiling. There was no breakthrough in staff level talks on Sunday and President Biden and House Leader McCarthy are scheduled to meet today.

  • Yen is ~0.2% firmer, USD/JPY prints at ¥137.60/70 as the pair holds below ¥138 after finding support below ¥137.50. Core Machine Orders for March were weaker than expected printing -3.5% Y/Y vs exp 1.3%.
  • Kiwi is little changed from opening levels, the pair was pressured in thin liquidity this morning before paring losses. AUD/NZD has printed a fresh YTD and is down ~0.1%.
  • AUD/USD is little changed from Friday's closing levels, the pair has observed a narrow range with little follow through on moves.
  • Elsewhere in G-10 SEK is ~0.3% firmer however liquidity is generally poor in Asia. GBP and EUR are both ~0.1% firmer.
  • Cross asset wise; e-minis are flat having been down as much as 0.3% this morning. BBDXY is 0.1% lower and US Treasury Yields are marginally softer.
  • There is a thin data docket today, participants are focused on the US debt ceiling situation which may evolve through the session.
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