By Randolph Donney — Feb 02 - 02:15 PM
USD/JPY fell to 128.08 with Tsy-JGB yields spreads down after Fed meeting
Also some spill-over weakness from plunging bund, gilts yields post-BoE, ECB
US data mostly better than f/c stemmed USD/JPY's slide nL1N34I1O3
Yen broadly stronger because JGB yields were up slightly vs drops elsewhere
BoJ's JGB yield cap is expected to eventually be raised, underpins yields
Prices being drawn toward Jan's 127.215 trend lows on EBS by Fed hike doubts
By those lows are 50% of the 2020-22 advance and May's key low at 126.56/37
Fri's NFP and ISM services are the last key report until CPI on Feb. 14
The primary down TL will be at 130.53 on Fri, should US data greatly impress
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary