• USD/JPY off on good rise in JGB yields from overnight, to 153.47 EBS
• On combination of firmer wage data today and official-speak on inflation
• Wages strong in December, big boost from winter bonuses
• Big impact from official-speak yesterday too - EconMin Akazawa, BOJ Ueda
• Ueda confirmed rising price pressures in Diet testimony
• EconMin Akazawa concurred, underlying inflation approaching 2%
• This despite comments from PM Ishiba allaying concerns over inflation
• Akazawa comments making rounds in Tokyo again this morning, pressure rates
• Yield on JGB 2s to 0.765%/10s to 1.300% this morning, highest since 2008/11
• USD/JPY saw less Gotobi Tokyo fix demand than eyed, through 154.00
• Range on 153 now eyed, massive option expiries between 153.15-25 to support
• Upside likely capped by also massive option expiries today at 154.00
• Market also coming around to view March BOJ Policy Board meeting "live"
• Related comments , , on BOJ
• Also , for more click on [FXBUZ]
USD/JPY hourly:
Yield on JGB 10s - hourly:
JGB-US Treasury 10-year interest rate differential:
(Haruya Ida is a Reuters market analyst. The views expressed are his own)