• USD/JPY up a leg overnight on broad USD strength, to 159.94 EBS

• Asia so far today 159.50-77 and holding relatively bid

• Spec long profit-taking ahead of 160.00 but bias up?

• Inflation concerns, view Fed could hike 50 bps in December cited

• Eyes will be on US yields following US Veterans Day holiday yesterday

• Wall St stocks higher, another reason for USD buys, stock-yen correlation

• Sticky crude oil prices also a factor boosting USD, ME tensions still high

• Some concerns over Japanese FX intervention but only above 160.00?

• Given hawkish Fed view, more leisurely BOJ hikes, JPY to stay on back foot?

• But Japanese exporters expected to offer, importers maybe less enthusiastic

• Option expiries today more supportive than not

• Between 158.40-50 $1.8 bln, 159.00-50 $2.4 bln, 160.00-35 only @$800 mln

• Related comments , , ,

• And , also

• Other markets , , on Fed
USD/JPY:


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