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Dec 16 - 04:55 PM

USD/JPY - Suffers Sharp Setback From Post-Fed Peak As Rates, Risk Retrench

By Randolph Donney  —  Dec 16 - 02:36 PM

  • USD/JPY down to 113.56 on EBS after Wed's 114.28 post-Fed peak

  • Dive part of broader covering of yen shorts taken after the Fed meeting

  • The initial risk-on response to Fed faded as Tsy yields and stocks slipped

  • Risk-on response to Fed looked off base, mostly position squaring

  • Price -0.35% ahead of close, but still above 10-DMA & tenkan at 113.53/51

  • Tsy-JGB 5-year yields spreads hit lowest since Dec. 3

  • Market unable to price in the Feds dot plot implied rate hikes

  • Uptrend intact while above rising cloud top, Friday at 113.31

  • No BOJ tightening seen at Friday's meeting

    For more click on FXBUZ

Chart Click here

Refinitiv IFR Research/Market Commentary


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