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Mar 12 - 05:55 PM

USD/JPY - Weakens As Fed Rate Expectations Dialed Back

By Krishna K  —  Mar 12 - 04:10 PM
  • USD/JPY declines in Asia after 0.85% drop Fri as risk aversion grips markets

  • Falls to 134.67 from 135.01 open; Friday range 136.99-134.11, closed 135.10

  • Safe-haven JPY gains, U.S yields plummet on jitters about U.S. banks

  • U.S. Fed, FDIC discussing backstop to make SVB depositors whole - CNBC

  • U.S. marshalling 'material action' to stem SVB fallout -sources

  • Mixed jobs data undermines USD; bets on aggressive Fed rate hikes pared back

  • U.S. job growth beats expectations, wage growth slows; Tuesday CPI pivotal

  • Fed-BOJ policy divergence may limit drop as outgoing Kuroda sticks to script

  • Support 134.00-10, 133.75-80, resistance 135.15-25, 135.70-80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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