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May 22 - 07:55 PM

USD/JPY - Hovers Near 6-Mth Peak; Biden-McCarthy Meeting Underway

By Krishna K  —  May 22 - 06:25 PM
  • USD/JPY nears 138.75 Thu peak; traded 137.50-138.67 Mon, closed 0.5% higher

  • Boosted by higher U.S. yields on moderately hawkish talk from Fed officials

  • U.S. 10-yr yield +4bps, rallies to 2-mth high; 2-yr +6bps, ends @ 2-mth high

  • Optimism of a debt ceiling lifts USD; Biden-McCarthy meeting starts

  • Fed-BOJ monetary policy divergence continues to undermine JPY

  • Resistance 138.75-80, 139.00-05, 139.50-60; support 138.25-30, 138.00-05

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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