USD/JPY-Commentary

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October 07, 2025

EUR, JPY flows: EUR downside favoured after weak German orders, JPY weakness overdone
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October 7, 2025 6:57 AM UTC

EUR to stay soft as German orders add to evidence of slowdown. JPY weakness lacks rationale

USD/JPY flows: Household spending solid
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October 7, 2025 12:53 AM UTC

Japan August Household spending +2.3% y/y

October 06, 2025

USD, JPY flows: JPY weakness unlikely to persist
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October 6, 2025 6:50 AM UTC

JPY weakness on Takaichi election victory unlikely to persist

USD/JPY flows: JPY Slumped after Takaichi Elected
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October 6, 2025 12:50 AM UTC

Sanae Takaichi elected to be the new LDP party leader

October 03, 2025

USD, JPY, EUR flows: EUR up JPY down after objectively soft ISM data
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October 3, 2025 2:28 PM UTC

EUR/JPY gains on ISM look to be more to do with end of week than the data itself. 

USD, JPY, EUR, AUD flows: JPY weaker, scope for some recovery in riskier currencies
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October 3, 2025 6:56 AM UTC

JPY weaker on Ueda comments, unemployment rise. Equities continue to gain

USD/JPY flows: Waiting for the weekend LDP leadership election
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October 3, 2025 1:39 AM UTC

BoJ Gov Ueda: To raise rates if economy, prices, move in line with forecasts
Japan's August unemployment rate 2.6%

October 02, 2025

USD, JPY, CHF flows: Steady markets, JPY still has upside scope, CHF topping out
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October 2, 2025 6:49 AM UTC

USD steady overnight, equities making new highs (again) but JPY favoured going forward. CHF looking toppy.

USD/JPY flows: Taking a breather
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October 2, 2025 5:31 AM UTC

U.S. will provide Ukraine with intelligence for long-range missile strikes on Russia’s energy infrastructure
Japan’s 10-year government bond auction showed weaker demand

October 01, 2025

USD, JPY, EUR flows: USD falls on weak ADP employment data
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October 1, 2025 12:31 PM UTC

USD softer across the board but JPY favoured going forward

USD, JPY, EUR flows: USD softer as US government shuts down
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October 1, 2025 6:48 AM UTC

USD softer and JPY stronger as US government shuts

USD/JPY flows: Tankan Report Shows Firm Divided on U.S. tariff
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October 1, 2025 2:48 AM UTC

BOJ official on Tankan - Firms divided on how they see US tariff impact

September 30, 2025

AUD, JPY flows: AUD firm after RBA, JPY remains well bid on shutdown concerns
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September 30, 2025 6:49 AM UTC

AUD benefits from more neutral RBA stance. JPY still favoured on US government shutdown concerns

USD/JPY flows: BoJ Summary Shows Split
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September 30, 2025 4:51 AM UTC

BoJ September summary shows tilt towards more normalization

September 29, 2025

USD, GBP flows: USD edging lower on shutdown concerns, GBP firmer
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September 29, 2025 6:31 AM UTC

USD softer as government shutdown looms. GBP edging up

USD/JPY flows: USD off for a soft start
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September 29, 2025 1:38 AM UTC

Trump administration weighs chip-linked tariffs on electronics to boost U.S. manufacturing
Japan leadership contender Takaichi drops hint she may renegotiate trade deal with the US

September 26, 2025

USD, EUR, CHF, JPY flows: More tariffs may impact EUR and CHF
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September 26, 2025 6:48 AM UTC

New Trump tariffs may impact EUR and CHF. JPY still weak

USD/JPY flows: Headline CPI Dips
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September 26, 2025 2:03 AM UTC

Japan Tokyo area CPI headline +2.5% y/y

September 25, 2025

USD flows: USD up on upward revision to Q2 GDP
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September 25, 2025 12:46 PM UTC

USD firmer on upward revision to GDP, particularly against the JPY

CHF, JPY, EUR flows: EUR/JPY approaches all time high, CHF in spotlight
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September 25, 2025 6:44 AM UTC

EUR/JPY contineus to rise towards the July 2024 all time high at 175.42. CHF strength in focus as SNB meets

USD/JPY flows: ex BoJ member echoes October hike
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September 25, 2025 4:40 AM UTC

Makoto Sakura Says The BOJ may act in October

September 24, 2025

AUD, JPY, EUR flows: AUD gains on CPI, JPY still weak
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September 24, 2025 6:47 AM UTC

AUD/NZD at a post 2022 high, EUR/JPY approaching all time high from July 2024

USD/JPY flows: Equities performing individually
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September 24, 2025 5:03 AM UTC

Equities performing individually on Wednesday

September 23, 2025

USD flows: US PMI has little impact
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September 23, 2025 1:49 PM UTC

US S&P PMI marginally weaker than expected, but no market impact

USD/JPY flows: LDP Leadership Contenders Began Their Show
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September 23, 2025 4:00 AM UTC

Japanese PM contender Koizumi says must be mindful of need for fiscal discipline

September 22, 2025

USD, EUR, JPY flows: Neutral picture, risk premia remain very low
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September 22, 2025 6:50 AM UTC

USD steady, Japanese equities firmer, FX becalmed ahead of PMIs

USD/JPY flows: Market Unfazed by BoJ's Century Long Offer
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September 22, 2025 12:52 AM UTC

The Japanese equity market rebound as current magnitude and pace of BoJ selling of asset indicates it will last for a century

September 19, 2025

USD/JPY flows: BoJ Holds As Expected
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September 19, 2025 4:17 AM UTC

BoJ kept rates at 0.5%

USD/JPY flows: Headline CPI tread below 3%
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September 19, 2025 3:21 AM UTC

Japan August headline CPI 2.7%

September 18, 2025

USD flows: US data USD supportive
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September 18, 2025 12:47 PM UTC

Decline in jobless claims and stronger Philadelhia Fed survey USD supportive.

USD, EUR, JPY, NOK flows: USD firmer after Fed, JPY soft, NOK could slip on Norges Bank
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September 18, 2025 6:52 AM UTC

USD firmer after Fed despite larger than expected 2025 rate cuts in the dots. JPY continues to underperform. NOK can slip on Norges Bank

USD/JPY flows: USD broadly higher
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September 18, 2025 4:56 AM UTC

USD broadly higher as market participants digest FOMC decision

September 17, 2025

USD/JPY flows: Export stays in contraction
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September 17, 2025 3:16 AM UTC

Japan August Exports -0.1% y/y , Imports -5.2% y/y

September 16, 2025

USD, CAD flows: USD slightly firmer, CAD little changed after data
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September 16, 2025 12:54 PM UTC

US retail sales on the strong side, halting the USD's slide. Canadian CPI in line on the core

GBP, USD flows: GBP little changed after UK data
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September 16, 2025 6:37 AM UTC

GBP unchanged after UK labour market data in line with consensus

USD/JPY flows: Consolidation continues
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September 16, 2025 3:27 AM UTC

Japan’s Hayashi said Tokyo pleased with implementation of tariff agreement with the US

September 15, 2025

USD, AUD, NOK, JPY flows: Equity strength supports riskier currencies, but...
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September 15, 2025 6:51 AM UTC

Equity gains have helped AUD and NOK rise, but rising risk premia suggest JPY can catch up.

USD/JPY flows: Quiet start for the week
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September 15, 2025 1:46 AM UTC

Trump says he's willing to impose sanctions on Russia

September 12, 2025

USD/JPY flows: Japan and the US have reaffirmed their agreement not to manipulate FX rates
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September 12, 2025 2:23 AM UTC

Japan and the US have reaffirmed their agreement not to manipulate FX rates

September 11, 2025

USD/JPY flows: August PPI y/y Solid
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September 11, 2025 1:40 AM UTC

Japan August PPI +2.7% y/y

September 10, 2025

USD, AUD flows: USD slightly softer after much lower than expected PPI
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September 10, 2025 12:52 PM UTC

USD modestly lower as PPI declines in August, new highs for S&P futures

USD, NOK, SEK, JPY flows: Quiet markets ahead of US price data
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September 10, 2025 6:47 AM UTC

FX markets briadly steady but JPY and NOK remain undervalued

USD/JPY flows: Russian Drones Found in Poland Airspace
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September 10, 2025 1:03 AM UTC

Reports of Russian drone incursions into Poland Airspace

September 09, 2025

USD, JPY flows: USD reverses initial dip on payroll revision
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September 9, 2025 2:16 PM UTC

US benchmark payroll revised down m ore than expected, but little implication for current trend

USD, JPY, CHF, AUD flows: USD soft, JPY and AUD favoured
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September 9, 2025 6:39 AM UTC

JPY can close Monday's opening gaps on crosses. AUD/USD threatening top of recent range

USD/JPY flows: LDP Set Oct 4 for leadership vote
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September 9, 2025 2:53 AM UTC

Japan’s LDP set October 4 for leadership vote

September 08, 2025

JPY flows: Dip on Ishiba resignation unlikely to last
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September 8, 2025 6:59 AM UTC

JPY lower after Ishiba resignation, but has scope for major recovery

USD/JPY flows: Japanese PM Ishiba Resigned
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September 8, 2025 2:11 AM UTC

Japanese PM Ishiba resigned over the weekend

September 05, 2025

USD, CAD, JPY flows: US employment weak, Canadian weaker
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September 5, 2025 12:52 PM UTC

USD lower after weaker employment data, Canadian data much weaker still 

JPY flows: JPY supported by strong wage data
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September 5, 2025 8:27 AM UTC

JPY upside potential remains, downside risks decline as wages rise