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Published: 2024-04-15T04:42:34.000Z

USD/JPY flows: Another Day, Another High

byCephas Kin Long Yung

FX Analyst
-

Iran attacks Israel over the weekend

Risk of escalation but seems to be better than some expected

Over the weekend, Iran's attack on Israel materialized with hundreds of missiles and drones but most have been intercepted. With Iran's official comment "it can be concluded", market seems to be on the calm side as the assault could have been much worse. The U.S. also "leaked" they do not support an Israel retaliation, which may reduce the risk for an escalation. USD outbids the JPY in times like this with a level of safety while enjoying a higher yield. Japan finance minister Suzuki continues with his jawboning and its fruitless result may see actual intervention coming in shortly, given the pace of weakness in JPY.

USD/JPY reached another new high at 153.82, up 0.41% for the day.

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Topics
Foreign Exchange
FX DM
Flows
USD/JPY-Commentary

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