USD/JPY-Commentary

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November 21, 2024

USD/JPY flows: Holding on 155
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November 21, 2024 2:34 AM UTC

Japanese media, NHK, reported Japan's economic package expected around 21.9 trillion yen

November 20, 2024

JPY flows: Sharp JPY decline looks excessive
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November 20, 2024 8:01 AM UTC

JPY has reversed yesterday's gains but decline looks excessive

USD/JPY flows: More import
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November 20, 2024 12:40 AM UTC

Headline trade balance softer than estimate but details improves

November 19, 2024

USD, JPY, CHF flows: USD quieter, crosses to dominate
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November 19, 2024 8:00 AM UTC

Majors mostly consolidating. Verbal intervention from Japan helping cap USD/JPY but little USD momentum seen. Scope for action on crosses 

USD/JPY flows: Treading lower
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November 19, 2024 1:48 AM UTC

USD/JPY treads lower in Asia

November 18, 2024

USD, JPY, EUR flows: JPY slips after Ueda comments
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November 18, 2024 7:50 AM UTC

USD/JPY moved higher after Ueda speech, but BoJ December rate hike remains a close call. EUR/USD may have modest scope for recovery.

USD/JPY flows: Subtle hint
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November 18, 2024 1:48 AM UTC

Bank Japan Gov Ueda says driver of Japan's inflation shifting towards rise in domestic wages.

November 15, 2024

USD, JPY flows: USD gains support after solid retail sales
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November 15, 2024 2:20 PM UTC

USD better bid after strong retail sales but JPY holds its own as market increases BoJ rate hike expectations

JPY flows: Turning lower helped by yield spreads
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November 15, 2024 10:11 AM UTC

USD/JPY has bounced off a Fibnacci retracement level at 156.66 and has moved more than a figure lower helped by rising JGB yields and speculation of BoJ tightening in december. 

USD/JPY flows: One way traffic
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November 15, 2024 2:21 AM UTC

Japan finance minister Kato says will take appropriate action versus excessive FX moves

November 14, 2024

USD, EUR, JPY flows: USD gains after PPI
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November 14, 2024 2:02 PM UTC

PPI only marginally stronger than expected but the USD remains firm. However, furtehr gains may be more difficult, particularly against the JPY

USD, EUR, JPY, AUD flows: USD stays firm
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November 14, 2024 7:55 AM UTC

USD gains continue but stretched against AUD and JPY

USD/JPY flows: New Three Month High
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November 14, 2024 2:20 AM UTC

USD/JPY reached new three month high on USD strength

November 13, 2024

USD, EUR, JPY flows: USD slips back after CPI
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November 13, 2024 1:40 PM UTC

US yields and the USD both fall despite CPI being bang in line with consensus. Scope for more JPY gains

USD, EUR, JPY flows: USD stays firm, JPY under pressure
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November 13, 2024 7:57 AM UTC

US yields and the USD continue to rise. JPY weakness the feature overnight helped by further decline in equity risk premia to the lowest since 2002. 

USD/JPY flows: Staying elevated
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November 13, 2024 4:10 AM UTC

USD/JPY continues the rally with little verbal intervention

November 12, 2024

USD/JPY flows: Challenging another figure
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November 12, 2024 2:51 AM UTC

USD/JPY testing 154

November 11, 2024

USD, EUR, GBP, JPY flows: USD firm in early trade
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November 11, 2024 8:11 AM UTC

USD firm as markets anticipate Trump administration. GBP resilient, USD/JPY stretched

USD/JPY flows: Upbeat start for the week
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November 11, 2024 3:38 AM UTC

BOJ divided on rate hike timing from summary of opinion

November 08, 2024

USD, CAD, EUR, JPY flows: USD reverses gains, CAD in focus
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November 8, 2024 7:59 AM UTC

The rise in US yields and the USD after the election have largely been reversed, but equities remain elevated and commodity currencies have outperformed. But the CAD remains vulnerable if today's employment report is weak.

USD/JPY flows: More jawboning
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November 8, 2024 5:19 AM UTC

More verbal intervention 

USD/JPY flows: Household spending remains weak
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November 8, 2024 2:15 AM UTC

Household spending remains in contraction

November 07, 2024

USD/JPY flows: Labor Cash Earning Stays Strong
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November 7, 2024 5:12 AM UTC

Japan September Labor Cash Earning 2.8% y/y

USD/JPY flows: Jawboning curb the strong gains for now
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November 7, 2024 1:09 AM UTC

Atsushi Mimura says closely watching market moves with high sense of urgency

November 06, 2024

USD flows: USD up on likely Republican clean sweep
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November 6, 2024 7:32 AM UTC

USD up as Trump victory seems assured with the Republicans also likely to win both houses of Congress. JPY to suffer most initially on risk positive move 

USD/JPY flows: Trump Trade Cheers
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November 6, 2024 3:08 AM UTC

Market cheers on Trump seemingly passed North Carolina

USD/JPY flows: Back to Trump Trade
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November 6, 2024 1:56 AM UTC

Trump Trade resumes as early polls favor Trump

November 05, 2024

USD flows: ISM services data gives the USD a boost
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November 5, 2024 3:08 PM UTC

Strongest index since November 2022

USD flows: Election scenarios for the USD
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November 5, 2024 2:37 PM UTC

USD to gain on Trump victory, fall on Harris win

USD flows: Election awaited, mild risk positive tone
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November 5, 2024 7:44 AM UTC

Markets awaiting election news. USD starting close to fair based on recent metrics. 

USD/JPY flows: Higher, but not close to Monday gap
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November 5, 2024 4:08 AM UTC

USD/JPY is higher so far in the Asia session

November 04, 2024

USD flows: USD softer as polls suggest no Trump advantage
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November 4, 2024 7:50 AM UTC

Latest polls suggests the presidential race is too close to call suggesting USD strength on the expectation of a Trump in is overdone

USD/JPY flows: Opened sharply lower
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November 4, 2024 1:17 AM UTC

USD/JPY opened lower on weekend U.S. election polls

November 01, 2024

USD flows: USD generally weaker after employment report
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November 1, 2024 12:54 PM UTC

US employment report clearly on the weak side with downward revisions to August and September as well as the weaker (but weather and strike affected) October number. USD risks on the downside but major move unlikely ahead of the election 

October 31, 2024

JPY flows: JPY firmer after BoJ
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October 31, 2024 7:29 AM UTC

JPY firmer after BoJ meeting with Ueda comments suggesting tightening cycle will continue

USD/JPY flows: Stronger before BoJ
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October 31, 2024 12:50 AM UTC

JPY stronger before BoJ

October 30, 2024

USD flows: USD firmer after data
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October 30, 2024 1:37 PM UTC

Solid GDP and strong ADP underpin USD

October 28, 2024

USD. JPY, EUR flows: JPY soft after election, USD firm
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October 28, 2024 7:36 AM UTC

USD/JPY continues to gain as ruling coalition loses majority at weekend election, while USD continues to benefit from rising yields. 

October 25, 2024

AUD, EUR, JPY flows: Quiet day ahead, AUD looks undervalued
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October 25, 2024 7:03 AM UTC

No major calendar events today. AUD weakness remains puzzling. USD/JPY likely approaching a top

USD/JPY flows: More jawboning
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October 25, 2024 5:08 AM UTC

Japan September Service PMI 2.6%

USD/JPY flows: Tokyo Headline CPI lower
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October 25, 2024 12:59 AM UTC

Tokyo area October Headline inflation 1.8% y/y (prior 2.2%)

October 24, 2024

USD, JPY flows: JPY gains as yields edge lower, verbal intervention returns
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October 24, 2024 6:55 AM UTC

USD/JPY slightly lower but limited downside without yield spread or equity moves

USD/JPY flows: Jawboning heard
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October 24, 2024 3:35 AM UTC

Japan finance minister Kato says Rapid moves seen in recent FX market
Japan's Deputy Chief Cabinet Secretary Kazuhiko Aoki says watching for speculative FX moves

USD/JPY flows: Below 153
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October 24, 2024 1:51 AM UTC

Japan October flash PMIs Manufacturing 49.0 (prior 49.7) Services 49.3 (prior 49.6)

October 23, 2024

JPY flows: JPY weakness extends further
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October 23, 2024 6:43 AM UTC

More post August highs for USD/JPY as US yield rise continues. Short term JPY weakness hard to oppose while US equity sentiment holds firm, but longer term levels are overstretched

USD/JPY flows: Another day, another figure higher
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October 23, 2024 4:58 AM UTC

USD/JPY reached 152

USD/JPY flows: Northbound
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October 23, 2024 2:56 AM UTC

USD/JPY continue to rise

October 22, 2024

JPY flows: JPY weakness extends
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October 22, 2024 6:41 AM UTC

More post August highs for USD/JPY as US yield rise continues. Short term JPY weakness hard to oppose while US equity sentiment holds firm, but longer term levels are overstretched

USD/JPY flows: No comment on fx level
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October 22, 2024 4:53 AM UTC

Japan deputy chief cabinet secretary says no comment on FX level

USD/JPY flows: No Jawboning yet
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October 22, 2024 12:46 AM UTC

USD/JPY stayed above the 150 figure