[MARKET UPDATE] JGB yields continue to fall from record highs, potentially the reason for JPY underperformance as USD/JPY extends above 158.60; AUD/USD breaks above 68 handle following hot Aussie employment report

The falling JGB yields suggest a shift in the interest rate outlook, which may be contributing to the JPY's weakness against the USD, evidenced by the move above 158.60.

Newsquawk StaffPublished 22 Jan 2026, 04:39 UTCOn the live feed at 04:19 UTC, 20 minutes before this page

Newsquawk headlinesUTC

05:32

US ambassador says all options are on the table [on Iran] and President Trump will keep his promise

04:51

Israeli military source quoted by local press: "The US military is mobilizing large capabilities in the region in preparation for the possibility of a large-scale confrontation with Iran", Sky News Arabia reports

04:19

[MARKET UPDATE] JGB yields continue to fall from record highs, potentially the reason for JPY underperformance as USD/JPY extends above 158.60; AUD/USD breaks above 68 handle following hot Aussie employment report

04:13

[MARKET UPDATE] Asia-Pac equities continue to trade mostly in the green, ex-China; Nikkei leads gains (+2%), followed by KOSPI (+1.3%)

03:55

[MARKET UPDATE] USD/JPY extends to a new session high of 158.59, despite a lack of newsflow; JGB yields continue to fall from record highs seen earlier in the week

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Context

Additionally, the strong Australian employment report is driving AUD strength, pushing AUD/USD above the 68 cent mark. This dynamic indicates varying expectations for monetary policy across the countries involved, impacting cross-currency flows significantly.

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