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Sep 11 - 03:55 PM

USD/JPY - Dives On BoJ Rate Hike Hint, Pre-Key US Data Correction

By Randolph Donney  —  Sep 11 - 02:25 PM
  • USD/JPY remains down 0.9% after BoJ's Ueda put a rate hike on the table

  • Sell-off also part of broader long USD correction ahead of key data midweek

  • Monday's 145.91 low on EBS was made in earlier European trading

  • That drop pierced the 21-DMA at 146.28, but may not close bearishly below it

  • Despite big jumps in JGB yields, Tsy yields still tower over JGB yields

  • Pullback will be guided by US CPI, PPI and retail sales on Wed & Thur

  • Also seeing if BoJ rate hike hint is backed by more MoF intervention talk

  • Firm US inflation and sales data would underpin prices, regardless

  • But if US data lower the Fed rate outlook, kijun & Sep's low could be tested

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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