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Japanese Yen Springs to Life as Bank of Japan Tightening is in Focus. Lower USD/JPY?

January 3, 2023

Via: DailyFX

The Japanese Yen has continued to strengthen today with USD/JPY dipping below 130 for the first time since June last year.

The Bank of Japan’s pivot on policy in December has led to speculation of further potential tightening in 2023. Japan is on holiday today and the domestic reaction to the moves so far this week might be noteworthy.

The US Dollar is weaker against most other currencies, reversing Monday’s moves. US Treasury yields have had a mixed day across the curve with the backend from the 10-year note adding a few basis points but the mid part of the curve losing a few.

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