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Jul 07 - 04:55 PM

USD/JPY - Lifted By Rebounding Treasury Yields, Stocks; 24-Yr Peak Eyed If NFP Abide

By Randolph Donney  —  Jul 07 - 02:35 PM

  • USD/JPY was up 0.14% on the back of rebounding Treasury yields, stocks

  • Dollar and yen both funding ccys, so risk-rebound a mixed bag for USD/JPY

  • Two-yr Tsy-JGB yield spreads at 3.10% fm 2.87% Tues low vs 3.48 June peak

  • US jobs data slightly disappointing, focus now on NFP Fri nL1N2YO1DP

  • Fed's Waller and Bullard talk up need for rate hikes, see soft landing

  • USD/JPY uptrend drifting up toward 24-year peak at 137 on EBS

  • Failed attempts at bearish closes below 21-DMA, Ichi setup supportive

  • But getting 2-yr Tsy-JGB yields spreads up by June peaks key for breakout

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Refinitiv IFR Research/Market Commentary


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