JPY flows: Some haven bids on U.S. strike of Houthi

Geopolitical conflict once again seize the headline again as the U.S. and UK launched airstrikes against Houthi targets in Yemen while Australia, the Netherlands, Bahrain, and Canada supported. Soon after the airstrike report, the United States Embassy in Iraq was also reported to be bombed, looking like a tit for tat retaliation. The market reaction so far has been muted as we see gold and JPY higher while risk asset tilts negative.

USD/JPY is trading 0.14% lower at 145.07 despite U.S. Treasury Yields outperform JGB yields.