JPY Trading Outlook (09-03-2011)
The Japanese Yen (JPY) was weaker on the general USD strength and on strong demand for Yen crosses. AUD/JPY is the traditional carry trade and is well supported above Y83. Also helping the USD/JPY to move higher is the increase in US Bond Yields, closely watched for an indication of medium term interest rate expectations. Overall the USD/JPY traded with a low of 82.19 and a high of 82.88 before closing the day around 82.80 in the New York session.
Back to JPY Trading Outlook Archive