Japanese Yen Jul '22 (J6N22)
Japanese Yen Futures Market News and Commentary
The dollar index (DXY00) on Monday fell by -0.17% as the 10-year T-note yield fell by -7 bp to 2.76%, undercutting the dollar’s interest rate differentials. T-note yields fell back after last Friday’s +14 bp jump on the strong U.S. payroll report.
The dollar also fell back on some profit-taking after last Friday’s +0.88% rally that occurred after the stronger-than-expected U.S. payroll report of +528,000 suggested that the Fed will need to continue to tighten monetary policy aggressively.
The dollar Monday had underlying support from liquidity demand as stocks faded from an early rally. The dollar also saw some safe-haven demand on continued Taiwan tensions after China’s military Monday announced new military exercises around Taiwan focused on antisubmarine and air-to-sea strikes. The previous 4-day set of exercises ended Sunday. China is keeping up the pressure on Taiwan after House Speaker Pelosi’s visit to Taiwan last week.
EUR/USD (^EURUSD) on Monday rose... Read more
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