[MARKET UPDATE] USD/JPY continues to trend higher amid a lack of a clear market driver, currently +0.4% (158.68)
Newsquawk Staff ·
USD/JPY continues to trend higher amid a lack of a clear market driver, currently +0.4% (158.68)
What it means
The USD/JPY's upward trend, up 0.4% without a clear market driver, suggests underlying momentum possibly linked to broader dollar strength or yen weakness. Traders should be cautious, as this move may be driven by sentiment rather than fundamentals, which could lead to volatility if a catalyst emerges.
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed folowing the continued tech rout stateside where the Nasdaq 100 slipped into a correction and with markets cautious ahead of the US midterm election
- [MARKET ANALYSIS] Dollar is flat ahead of the midterms, while yuan weakens after the PBoC raised its FX RRR
- [MARKET ANALYSIS] T-note futures pulled back after gaining yesterday alongside a slump in oil prices, while demand is contained with cash treasuries trading shut overnight amid the Tokyo closure
- [MARKET ANALYSIS] Oil prices are contained after dropping 8% on Monday amid hopes for diplomacy and despite a report that the US conducting a small-scale, defensive attack on Iran's Qeshm Island
- [MARKET UPDATE] Asia-Pac stocks begin mixed with underperformance in the KOSPI following the continued tech rout stateside which saw the Nasdaq 100 dip into a correction, while demand is contained amid the holiday in Japan and looming US midterm elections
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