Skip to main content

USD/JPY extends gains to above 153

Yesterday the catalyst for a jump above 152 in the USD/JPY was all about the slide in US bonds and higher yields, derived from the hotter than forecast US CPI report. That was exactly the kind of data the USD/JPY really needed to make an impulsive move above 152 and that move extended above the 153 handle heading into the US close, where it later ended the session at 153.16. It has not risen above that closing level yet today. Well, did trade at 153.17 on the Asian handover, but since then it dropped back to a low at 152.76. However, it has recently reclaimed levels above 153, as the stronger dollar dynamic seems to eclipse any threat of intervention from the Bank of Japan. We know these guys can step up to the plate at any time, but once again the point is made here; that the dollar is up here because it deserves to be, given the fundamentals and deep down the BOJ knows that too. The USD/JPY is currently trading at 153.02

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!