All sorts of explanations and stories around the plac on the big surge in USD/JPY this morning in Tokyo
Yen crosses higher alongside, NZD/JOPY an outperformer (but NZD/USD has pulled back a little from its circa 0.7310 high
AUD/USD benefitted from AUD/JPY buyers but has turned back from 0.7700, again.
Yen weakness this morning , cited reasons:
- Better risk appetite diminishing appetite for the yen
- More talk on the Bank of Japan buying foreign bonds (for example)
- Governor Kuroda appearing in the Diet, though what he has been reported as saying seems neither here nor there to me ... on the dovish side though I suppose. He did add he through negative rates were overall a positive for the economy, so there's that.
- Stop loss buyers kicking in above 102.10
I'm going with 'all of the above'!
USD/JPY:
