By Randolph Donney — Aug 08 - 01:45 PM
USD/JPY was swept up in a broad USD safe haven advance, nears Aug's highs
Yen's own haven demand on China/global growth angst offset by BoJ doubts
Negative Japanese real wages, cooler nominal wages favor BoJ staying easy
Tues's high at 143.435 on EBS gets closer to Aug's 143.89 post-BoJ peak
Other resistance is clustered just above 144, and by June's 145.07 peak
If current risk-off flows persist or worsen USD will benefit more than yen
The data focus is on Thur and Fri's U.S. CPI and PPI reports
Along the way the Treasury has oversized refunding to finish on Wed and Thur
But today's 3-yr Tsy auction was well bought pulling S-T yields lower again
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary