Explore eFXplus Derived Data That Drive Results
A Data Partner of:
May 08 - 04:55 PM

USD/JPY - Yen Remains The Weakest Major Currency Despite MoF, BoJ Efforts

By Randolph Donney  —  May 08 - 02:25 PM
  • USD/JPY rose 0.58% as MoF, BoJ yen support efforts continued to fail

  • Japan's MoF and BoJ continue to lean against the yen's weakness

  • But even with dovish US data on Friday, USD/JPY quickly rebounded

  • And did so after finding support by 2023/22 peaks near 152

  • Prices now nearing 50% of last week's collapse, April 30 low at 156.05/08

  • Big drops in Tsy-JGB ylds spreads appear to have bottomed out

  • Those spreads remain attractive as is low-yield yen as a funding currency

  • Focus beyond possible intervention risk is US CPI, sales data May 15

  • Wed's Fed speakers supported Treasury yields and the dollar

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved