By Randolph Donney — May 31 - 02:45 PM
USD/JPY up 0.8% and probing 50% Fibo/kijun hurdles at 128.86
Close above there and 129 would eye 130, then 131.35 20-yr EBS peak
Markets back to pricing in Fed funds peaking near 3%
Two- and 10-year yields up 4.6bp and 9.3bp against steady JGB yields
Drop from May's 131.35 peak to 126.37 ends ABC correction, resets RSIs
Fed's Waller joined the chorus of Fed hawks Monday nW1N2WO004
Surging oil prices also favor U.S. vs import-dependent Japan
Wed brings ISM-mfg, JOLTs, beige book and Fed speakers
For more click on FXBUZ
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Source:
Refinitiv IFR Research/Market Commentary