FXstreet.com (San Francisco) - USD/JPY climbed to a two-day high of 78.73 overnight Tuesday after falling to an intraday low of 78.15 , recovering all of the previous day’s losses.
“The fact USD/JPY is now attracting solid demand on dips toward 78.20 is consistent with the recent jag higher in US-JP 2-year bond spreads,” says NAB. “It will also be welcomed by the Bank of Japan. Still, even with the BoJ on the sidelines, rising US bond yields may see USD/JPY break above 79.00 in coming sessions.”
“The fact USD/JPY is now attracting solid demand on dips toward 78.20 is consistent with the recent jag higher in US-JP 2-year bond spreads,” says NAB. “It will also be welcomed by the Bank of Japan. Still, even with the BoJ on the sidelines, rising US bond yields may see USD/JPY break above 79.00 in coming sessions.”
