USD/JPY flows: Volatile Morning

We are beginning the week with a volatile morning with headlines crossing the wires and see USD opened broadly lower against major. USD/JPY reopened 30 pips lower than Friday close. But as the run to close the opening gap ran too far, USD/JPY is met with fierce offer to trade 160 pips lower. It seems a more hawkish expectations from the BoJ on Wednesday has kept JPY bids alive.

Both the U.S. Treasury and JGB yields are lower and see USD/JPY trading 0.19% lower at 153.42.