USD/JPY pares intraday losses around 133.30 heading into Monday’s European open, after snapping a two-day uptrend earlier in the day.
In doing so, the USD/JPY tracks yields amid mixed data, softer-than-expected Japan Gross Domestic Product (GDP) versus firmer Industrial Production for June.
Also troubling the USD/JPY pair is the lack of uniformity among the options market traders. That said, the one-month risk reversal for the yen pair, a difference between the call options and the put options, rose during the last two days but marked the weekly negatives. It’s worth noting that the daily RR rose 0.110 and 0.025 levels in the last two days but the weekly RR dropped to -0.025 on the weekly basis.
On the other hand, US 10-year Treasury yields remain pressured near 2.84% by the press time.
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