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
Source:
Refinitiv IFR Research/Market Commentary