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Dec 29 - 07:55 PM

USD/JPY - Hovers Near 5-Month High As US Yields Stay Elevated

By Krishna Kumar  —  Dec 29 - 06:12 PM

• USD/JPY stays bid in early Asia after closing unchanged on Friday

• Holds near 5-mth 158.09 high hit on Thursday as US yields stay elevated

• USD has nearly gained 5.5% vs JPY this month and has advanced 11.8% in 2024

• Fed caution on rate cuts, BOJ hesitation to raise rates undermine JPY

• Japan's concerns over a sliding JPY may slow dollar's advance

• Resistance 158.10, 158.80-85, support 157.30-35, 157.00-05

• Friday range 157.35-157.96
Core inflation in Japan's capital rises:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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