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Jan 16 - 07:55 AM

USD/JPY - Sees Big Swings As BOJ Battles Bond Bears

By Martin Miller  —  Jan 16 - 05:40 AM
  • Yen climbed as BOJ battles bond bears nL1N3410H6nL1N34104H

  • Bets upped BOJ will tweak its yield control policy further nL1N3410I7

  • USD/JPY slumped to 127.22 in Asia, before rebounding to 128.87 in London

  • 127.22 is the lowest level seen on the EBS since May 2022

  • USD/JPY's medium-term chart remains fragile nL1N3410FD

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are well above +0.5

  • The two currency pairs are moving in tandem

Source:
Refinitiv IFR Research/Market Commentary

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