BUZZ-USD/JPY on back foot after surge Friday, despite US rates
Despite higher US rates, USD/JPY on back foot since Friday
US rates higher yesterday before pushing down, Tsy 2s @3.375%, 10s @4.766%
USD/JPY 156.92-157.95 yesterday, off from 158.88 spike high Friday
Asia 157.13-47 EBS so far, closer to lows seen yesterday
IMM CTA data show market now short JPY, caution keeping USD/JPY capped?
Downside likely limited with US yields firm, range base around 156.00
Double bottom in area - 155.97/156.02 lows Dec 20/31, also 156.25 Jan 6
Japanese importer, maybe investor demand eyed into today's Tokyo fix
Tech resistance from 157.69 200-HMA, 55/100-HMAs above at 157.78/94
Option expiries today 155.80 $596 mln, 156.50 $800 mln, 157.00 $475 mln
And 157.60-85 total $444 mln, 158.00-10 total 376 mln
Related comments nL1N3O90QG, nL1N3O90DE, nL1N3O90AL, nL1N3O90A1
And nL1N3O909K, nL1N3O909L, nL1N3O401C, also nL1N3O90XD
US markets nL1N3O90TM, nL1N3O9132, nL4N3O9103, nL1N3O90LS
On the US economy nL1N3O50NH, nL1N3O90SE
On IMM CTA positioning nAQN2JXISX, for more click on FXBUZ
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
Related Articles
What hurdles lie ahead for any US-China TikTok deal?
By David Shepardson WASHINGTON, Sept 15 (Reuters) - Questions and potential hurdles surround a framework agreement announced on Monday between the U.S. and China that would switch short-video app TikTok to U.S.-controlled ownership, including whether any deal will comply with a 2024 law. U.S. and
[Reuters Analysis] Hedging surge reflects crowded trade - long Wall Street, short U.S. dollar: McGeever
By Jamie McGeeverORLANDO, Florida, Sept 16 (Reuters) - The rush to hedge U.S. equity exposure this year was initially seen as part of a broad 'de-dollarization' process, reflecting global investors' discomfort with President Donald Trump's trade, economic and foreign policy agendas. ...
September Fed Watch: A Policy Pivot That Could Make or Break the Bull Stock Market
TradingKey - The Fed’s September FOMC meeting is widely seen as locking in the first rate cut of 2025. Yet strategists at Morgan Stanley, JPMorgan, and Oppenheimer warn that as investors shift focus to slowing growth, a more cautious tone may replace bullish stock sentiment.
Effects of Interest Rate Cuts: Impact of Fed's September Meeting on Crypto Market
The Fed’s rate cut decision is a major bullish catalyst for crypto — but it comes with uncertainty. Investors should understand the economic rationale behind the move and adjust strategies accordingly. Staying flexible, informed, and disciplined is key to thriving in crypto’s fast-moving environment
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
