USD/JPY off with US rates, Jackson Hole dovish talk eyed
USD/JPY off with US rates on expected dovish Fed talk at Jackson Hole
Expectations for at least 3 25 bp Fed rate cuts this year, maybe more?
Yield on US Treasury 2s to 3.988%, 10s to 3.809% overnight
JGB yields off in sympathy but downside limited, 2s @0.346%, 10s @0.868%
USD/JPY 147.34 late Asia to 145.20, Asia so far today 144.95-145.30 EBS
Some bidding interest from early low, Japanese importers in mix
Japanese exporter, other offers eyed especially post-Tokyo fix
Massive option expiries on 146 to help cap, total $3.1 bln 146.25-80
Smaller, $380 mln at 145.60 today, nothing large below till 142.50 $650 mln
Tomorrow to see massive expiries from 145.60-70 too, to help cap upside
Down likely path of least resistance for now, 141.68 spike low August 5
Related comments nL1N3K70R9, nL1N3K70GV, nL1N3K708G, nL8N3K60SI
And nL1N3K701W, also nL1N3K70TD,
US markets nL1N3K70OE, nL1N3K70XG, nL4N3K713O, nL1N3K7023
On the Fed nL1N3K60K7, nL1N3K70T8, poll nL4N3K3187
For more click on FXBUZ
USD/JPY: https://tmsnrt.rs/3WRnNod
USD/JPY nearby option expiries this week: https://tmsnrt.rs/4du4WXj
Yield on US Treasury 2s: https://tmsnrt.rs/46XsqSA
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
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