• Middle East war concerns with US-Iran talks seen at impasse

• US threatens to blockage Hormuz Strait, talks to continue in Islamabad?

• Ceasefire looks to be holding for now but to last the 2 weeks eyed?

• USD bid across the board, USD/JPY 159.35-85 EBS so far in Asia

• Some switch in market focus to central bank announcements

• Japan TradeMin Akazawa hints BOJ policy option to raise yen, tame inflation

• Boost to expectations for BOJ to up rates at end-April meeting?

• Fed on other hand looks to remain pat for now, inflation and growth concerns

• JGB-US Treasury rate diffs narrower, in 2s @, 10s @238 bps, 10s @186 bps

• Threat of Japan FX intervention higher too, 160.00 area still line in sand

• USD/JPY support on dips towards 159.00, Japanese importer, other bids eyed

• Large nearby option expiries today between 159.50-55 $1 bln, 160.00 $761 mln

• Related comments , , ,

• And , also , on Iran war ,

• US markets , , ,

• On Akazawa-speak/BOJ ,

• On US data , , for more click on [FXBUZ]

USD/JPY:


JGB-US Treasury interest rate differential:


NYMEX crude oil futures:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)