USD/JPY above 132 in early Monday Asia trade, 06 February 2023 - chart

USD/JPY gap in early Asia trade.

I've posted some news earlier, the headline would tend to send USD/JPY lower, but ... well, nope.

• Japan's Nikkei says the next BOJ Governor will be tasked with normalizing policy

The article is about current BOJ Dep gov Amamiya being approached to become next Governor when Kuroda finished up on April 8. Amamiya is not too different to Kuroda, and that headline doing the rounds seems to be an opinion in the article, not 'news'. If its Amamiya as the new head of the BOJ he'll be moving slowly and with trepidation on any dialing back of current policy.

I'm on the hunt for other news and chatter and will be back.

On a Monday morning, market liquidity Liquidity Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Read this Term is very thin until it improves as more Asian centres come online.

As usual for an early Asia Monday morning, prices are liable to swing around on not too much at all, so take care out there.

A guide to current forex rates:

• EUR/USD 1.0737
• GBP/USD 1.2036
• USD/CHF 0.9268
• AUD/USD 0.6898
• NZD/USD 0.6315 (note it's a market holiday in New Zealand today)