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May 10 - 04:55 PM

USD/JPY - Slammed By Post-CPI Rates And Risk Reduction, With Kijun In Play

By Randolph Donney  —  May 10 - 02:35 PM
  • USD/JPY dove from near Wed's 135.47 high to 134.12 lows last on EBS

  • Initial dive followed Tsy yield drop after slightly softer CPI

  • Fed's super-core services ex-housing just 0.1% m/m vs 0.4% in March

  • Three 25bp Fed cuts priced in by Dec, with 2-yr Tsy yields dn 11bp

  • A close below the kijun at 134.21 would be first since April 13

  • Last week's 137.78-133.50 slide was caught by the 30-DMA, now at 133.93

  • Haven yen up far and wide as post-CPI stocks rise turned into a dive

  • And high USD/JPY hedging cost has Click here Nikkei

  • PPI & claims Thur and retail sales next week possible Fed/Tsy guide

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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