Forex Flash: USD/JPY eying 79.00 in coming sessions - NAB
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USD/JPY
FXstreet.com (San Francisco) - USDJPY climbed to a two-day high of 78.73 overnight Tuesday after falling to an intraday low of 78.15 , recovering all of the previous day's losses.
"The fact USDJPY is now attracting solid demand on dips toward 78.20 is consistent with the recent jag higher in US-JP 2-year bond spreads," says NAB. "It will also be welcomed by the Bank of Japan. Still, even with the BoJ on the sidelines, rising US bond yields may see USDJPY break above 79.00 in coming sessions."
"The fact USDJPY is now attracting solid demand on dips toward 78.20 is consistent with the recent jag higher in US-JP 2-year bond spreads," says NAB. "It will also be welcomed by the Bank of Japan. Still, even with the BoJ on the sidelines, rising US bond yields may see USDJPY break above 79.00 in coming sessions."
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