First appeared on eFXplus on Jul 01 - 09:35 PM
- USD/JPY through 111.00, possible large shortage at Tokyo fix.
- From early Asia 110.50 low, through 111.00 to 111.07 so far, still buoyant.
- Break back above 111.00 targets test of 111.39 high May 21.
- Large option expiries between 110.90-111.00 (USD1.26 bln) magnet for now.
- Japanese exporter offers to trail higher, business good, 105 assumed rate.
- Aside from flows, little reason to buy USD - Nikkei soft, US yields steady.
USD/JPY: Click here
Thomson Reuters IFR Markets