JPY is soft and underperforming most of the G10 currencies into Tuesday’s NA session.
Key Quotes:
“Easing geopolitical tensions are supporting risk appetite and pressuring JPY. Risk reversals hint to a softening in the premium for protection against JPY strength and yield spreads are widening in a JPY-negative manner.”
“Domestic risk is limited ahead of Thursday’s industrial production and Friday’s BoJ. We continue to highlight the importance of the 200 day MA (110.21) as a level of near-term resistance.”
“EUR/JPY also appears to be struggling as it attempts to extend through 130.00 resistance.”
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