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Jan 11 - 12:55 PM

USD/JPY: The Steepening In The UST Curve Is Yet To Provide USD/JPY With A Boost - Credit Agricole

By eFXdata  —  Jan 11 - 10:45 AM

Credit Agricole CIB Research sees a scope for USD/JPY to rise further on the back of the rise of  UST yields.

"There were two sources of higher UST yields: (1) higher oil prices and thereby inflation expectations following Saudi Arabia’s surprise cut to its production; and (2) growing prospects for more US fiscal stimulus following the Democrats taking control of the Senate after their victories in the Georgia Senate run-off races," CACIB notes. 

"A continued rise in UST yields would likely lead to a turnaround in the USD, however, especially as it threatens to re-take the mantle as the highest yielder in the G10," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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