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Jun 22 - 04:55 PM

USD/JPY - Stuck Just Below June, January Peaks, Yen Weakens As Risk Recovers

By Randolph Donney  —  Jun 22 - 02:45 PM
  • Widespread yen weakness got USD/JPY to a 110.795 EBS high

  • Dollar mostly lower elsewhere, so yen weakness the main driver

  • Treasury yields no help, even front of curve backing off now

  • Fed only very carefully moving toward taper talk later in year

  • Fed Chair Powell in no rush to remove easing measures nN9N2M1018

  • Offers seen ahead of 111. Support seen into 110, then 109.695 kijun

  • Intraday rebound in stocks, crypto favor weaker haven yen

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Source:
Refinitiv IFR Research/Market Commentary

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