USD/JPY flows: Another Day, Another High

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.