Yen gains accelerated post the Asia close on Thursday. USD/JPY got back to 152.70 by the NY session, but we track slightly higher in early Friday dealings (last in the 152.80/85 range). Yen gained just over 1.0% for the session, to be the third best performed in the G10 space behind SEK, with CHF and NOK gains similar to yen. Broader USD sentiment was on the backfoot as Tsy yields reversed the Wednesday gain.
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USD/JPY tracked modestly higher post the Asia Pac close on Tuesday, getting to highs of 158.20. We sit a little softer now, last near 158.00, but yen still lost 0.30% for Tuesday's session, the worst performer in the G10 space. The rebound in EUR/USD was in focus, while EUR/JPY got back to 162.80/85, up 0.90%, and comfortably off recent lows near 160.00.
In local morning trade, NZGBs are 3-4bps cheaper, extending yesterday’s QSBO-induced sell-off.