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Jun 06 - 04:55 PM

USD/JPY - Clears May's 20-Year Highs And Eyes 2002'S 135.20 Peak If CPI Assists

By Randolph Donney  —  Jun 06 - 02:35 PM

  • USD/JPY passed May's 131.35 20-yr high as Tsy ylds rise on Fed hike pricing

  • Early risk-on flows also took a toll on the haven yen more broadly

  • Adding to yen loss was BoJ Gov Kuroda's uber-dovish remarks nL1N2XT06W

  • Post the payrolls beat, Fed and rates focus is now on Friday's CPI report

  • Hike pricing and yields back up by May peaks and 2018 highs re Tsy yields

  • Little USD/JPY historical resistance until 2002's 135.20 EBS peak

  • Option expiries strewn from 132 to 135, weekly BB top by 135 nL1N2XT18P

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Refinitiv IFR Research/Market Commentary


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