By Randolph Donney — Nov 07 - 01:35 PM
USD/JPY retraced Fri's post-payolls plunge amid mixed Fed opinions
USD broadly higher on steady S-T Tsy yields despite soft US jobs data
Tues's Fed speakers mixed on likely peak in tightening cycle, cut risk
But Tsy yields and dollar lower after 3-yr Tsy sale beat poor forecasts
Pullback in Tsy ylds from Oct highs yet to dissuade dip buyers
Uptrend intact unless weekly tenkan by last wk's 148.81 low is closed below
Japan wage & household spending data didn't hasten BoJ normalization view
Repeated expiries at 150/151/152, but scant R/R pricing of downside risk
Could see MoF jawboning to support yen again if 2023/22's peaks retested
But focus now on Wed's 10-yr Tsy auction and recent slide in yields
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary