eFX Apex
The Institutional-Grade Data Hub
- Plus: Discretionary Trades
- Edge: Sentiment Trades
- Alpha: Systematic Trades
- Apex: Full Big Data Stream
• USD/JPY to remain bid on dips after closing 0.55% higher on Wednesday
• Boosted by robust US economic data and hawkish comments from Fed officials
• US 10-year yield rallies 15bps to highest since 2007 on inflation concerns
• Chances of Fed Oct rate hike jump to 70% from 55%, underpin USD
• A jump in oil prices on Wed exacerbates inflation woes, will weigh on JPY
• Tokyo intervention resolve to face further tests as BOJ seen lagging Fed
• Japan eyes cut in liquidity-enhancement supply for 5-11 year bonds-sources
• Resistance 158.44, 61.8% of July-Sep decline, followed by 158.96, Sep 3 high
• Support 158.00-10, 157.50-60; Wed range 157.42-158.40, Asia 158.15-158.36
JPY:
(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)