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Yen Pressured In Early Dealing

FOREX

USD/JPY is pressured in early dealing on Monday, yen is ~0.3% weaker and is the weakest performer in the G-10 space.

  • USD/JPY sits at ¥136.70/80, the pair is ~0.3% firmer. Fridays high has been breached, the next target for bulls is ¥136.99.
  • Kiwi is also softer, NZD/USD prints at $0.6165/70 as the pair unwinds some of Fridays outperformance. AUD/NZD is back above $1.07 having briefly broken the handle on Friday.
  • NOK is also pressured down ~0.3% however liquidity in Asia-Pac is generally poor for this pair.
  • Cross asset wise; 2 Year US Treasury Yields are ~4bps higher and e-minis are ~0.2% lower. BBDXY is ~0.1% firmer.
  • There is a thin calendar in Asia today, China and Hong Kong are closed which will hamper general liquidity. The UK is closed for a bank holiday as are a number of European markets.
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