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Aug 08 - 07:55 AM

USD/JPY - FX Traders Prefer To Buy USD/JPY Dips; Beware Huge Options

By Richard Pace  —  Aug 08 - 05:45 AM
  • USD/JPY extended Mondays 141.52-142.59 gains to 143.43 Tuesday

  • Boost from Japanese importers and RM JPY/cross demand in thin markets?

  • Setback to 142.85 since and USD/JPY now settles just above 143.00

  • Heavy U.S. yields see traders reluctant to chase USD/JPY higher

  • There's a clear preference to buy dips to Fri/Mon lows by 141.50

  • Huge $4-billion 142.75-143.00 FX option strike expire 10-am New York Wed

  • Related hedging flows may help contain USD/JPY near the strikes pre expiry

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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