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Aug 19 - 04:55 PM

USD/JPY - Consolidates August Ranges Amid Dueling Haven Flows, Fed Taper Wait

By Randolph Donney  —  Aug 19 - 02:26 PM
  • USD/JPY near flat after posting a 109.49-110.225 range on EBS

  • High came in wake of Wed's Fed Minutes, broad dollar gains

  • Haven yen then favored amid global stocks drop

  • But U.S. jobless claims lifted US stocks, Tsy yields and USD/JPY

  • Prices now by middle of Aug. 11-16 110.80-109.115 drop at 109.76

  • Now a waiting game into Aug PMIs Tues, Jackson Hole Aug 26-28

  • Bigger pivot points are Sep. 3 NFP and Fed's Sep. 21-21 meeting

  • Better trading options in yen crosses with USD and JPY both havens

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Source:
Refinitiv IFR Research/Market Commentary

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