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Yen Gains On Crosses Continue, AUD/JPY & NZD/JPY Test Sub Monday Lows

FOREX

Yen gains have continued as we approach the Tokyo fix. USD/JPY is back towards 156.70, so close to session lows (156.65) (+0.20% up in yen terms). AUD and NZD losses have modestly extended, off 0.15% and 0.20% respectively.

  • AUD/JPY has tested under 104.00, sub Monday lows. NZD/JPY is is close to 93.55, which is fresh lows back to May in the pair.
  • No fresh catalysts have been observed in recent dealings. US equity futures sit a touch weaker, while US yield losses have extended to a little over 1bps, so some modest yen support on this front.

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