The US dollar slackened yesterday as yields faded and positions were squared ahead of non-farm payrolls but the dollar is reasserting itself today. That’s been coupled with a 2 bps rise in yields across the Treasury curve.
USD/JPY is particularly strong, up 45 pips to 148.95 after Japanese Finance Minister Shunichi Suzuki said today there were many factors to consider in determining whether moves in the FX market were ‘excessive’. He also the government would continue to make any intervention in stealth, and without any announcements.
USDJPY 10 mins