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USD/JPY extends gain to 200 pips as the shorts exit and Kuroda doubles down

USD/JPY extends gain to 200 pips as the shorts exit and Kuroda doubles down

What a minefield in USD/JPY this week.

The BOJ caught many in the market wrong-footed and doubled down on yield-curve control, leading to a sharp +300 pip rally but that lasted only a few hours before completely reversing as fresh shorts piled in.

Then, even with global yields falling further, USD/JPY refused to continued sliding and now has jumped 200 pips to 130.45. Some are highlighting position squaring and that makes a lot of sense with yields also up 1-6 bps across the Treas... Read More

Posted: Jan 20 2023, 13:56
Author Name: forexlive
Views: 110666

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