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USD/JPY reverses. What the market is watching
It's never straight-forward in the market.The US dollar fell on a soft CPI report but it's come storming back with USD/JPY up to 139.87 from a low of 139.02.The rebound in the dollar mirrors a rise in Treasury yields. US 10-year yields are up 0.5 bps to 3.77% from a low of 3.68% post-CPI.Why the rethink? The details of the CPI report are dovish, even core which was driven by used cars and set to reverse later. Looking at the Fed curve, there is about a 65% chance of a hike priced into July and t...
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Posted: Jun 13 2023, 14:03
Author Name: forexlive
Views: 081230