[MARKET UPDATE] USD/JPY has extended on session highs and is currently trading at 159.42, its highest level since July 2024
Newsquawk Staff ·
USD/JPY has extended on session highs and is currently trading at 159.42, its highest level since July 2024.
What it means
The recent uptick in USD/JPY, trading at its highest level since July 2024, signals increasing strength in the dollar relative to the yen. This movement could be driven by shifts in interest rate expectations or risk sentiment, potentially affecting cross-asset flows. Traders should monitor for any associated adjustments in risk assets and broader USD dynamics, as this could indicate future trends in monetary policy or economic outlooks.
- [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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