Forex Flash: Takeaways from overnight session – UBS
FXstreet.com (Barcelona) - News and data flow during the overnight session were limited, giving rise to another day of consolidation in the majors. In particular, the AUDJPY and NZDJPY managed to advance however, despite the lack of an obvious trigger.
Meanwhile US 10y yields briefly peeped above 2.0% yesterday in the wake of a robust Durable Goods Orders report. The texture of US economic data later this week will determine what happens next on that front, as will any material shift in stance from the FOMC on Wednesday. However, according to Research Analyst Gareth Berry at UBS, "there are grounds for optimism at least regarding Friday's payrolls print-raising the possibility that the USDJPY could soon be drawing support from an unlikely quarter, independent of commentary originating from inside Japan."
Meanwhile US 10y yields briefly peeped above 2.0% yesterday in the wake of a robust Durable Goods Orders report. The texture of US economic data later this week will determine what happens next on that front, as will any material shift in stance from the FOMC on Wednesday. However, according to Research Analyst Gareth Berry at UBS, "there are grounds for optimism at least regarding Friday's payrolls print-raising the possibility that the USDJPY could soon be drawing support from an unlikely quarter, independent of commentary originating from inside Japan."
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