• So far, Fri's 146.64 high vs prior 2023 peak at 146.565 is a feint

• Rise prompted by now receding Tsy yield gains after Powell's speech

• But those gains look ever more data-dependent

• That as Fed policy is increasingly data-dependent

• Shifts the focus to core PCE on Thursday and NFP on Friday

• To sustain a breakout, US data will need to support Fed firmness

• Some risk of O/B but lower RSI high bearishly diverging from new price high

• Prices now above tenkan support at 145.595 on EBS

• That's near next week's biggest option expiries at 145.50 on Wednesday

• 2-yr Tsy-JGB yield spreads probed July highs

• But 10-yr spreads slipped and are 12bp below Aug's 2023 highs

• BoJ Gov Ueda presents at Jackson Hole on Saturday

• Signaling a big shift in its extremely easy policy is unlikely

For more click on FXBUZ