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Apr 30 - 08:55 PM

USD/JPY - Boosted By Higher US Yields And Fed Jitters

By Krishna K  —  Apr 30 - 07:20 PM
  • USD/JPY likely to remain bid on dips after closing 0.95% higher Tuesday

  • Boosted by higher US yields on sticky inflation, higher-for-longer Fed rates

  • Growth in US labor costs accelerates in Q1; wages up 4.4% year-on-year

  • 10-yr yields up 49.6 bps in April, largest monthly gain since September 2022

  • US 2-yr yields hit highest since Nov as focus turns to Wed Fed rate decision

  • Quagmire anyone? Fed watchers try to divine a confusing state of play

  • USD to ratchet higher; Japan slows JPY drop, unlikely to fight gradual fall

  • Japan may have spent some $35.05 bln in supporting JPY on Monday

  • Resistance 158.00-05, 158.50, support 157.20-30; Tue range 156.08-157.81

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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