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TDUX
Sep 23 - 09:55 PM

USD/JPY - Surging US Yields Propel Pair Toward Resistance

By Krishna Kumar  —  Sep 23 - 08:51 PM

• USD/JPY to remain bid on dips after closing 0.55% higher on Wednesday

• Boosted by robust US economic data and hawkish comments from Fed officials

• US 10-year yield rallies 15bps to highest since 2007 on inflation concerns

• Chances of Fed Oct rate hike jump to 70% from 55%, underpin USD

• A jump in oil prices on Wed exacerbates inflation woes, will weigh on JPY

• Tokyo intervention resolve to face further tests as BOJ seen lagging Fed

• Japan eyes cut in liquidity-enhancement supply for 5-11 year bonds-sources

• Resistance 158.44, 61.8% of July-Sep decline, followed by 158.96, Sep 3 high

• Support 158.00-10, 157.50-60; Wed range 157.42-158.40, Asia 158.15-158.36
JPY:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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