USD/JPY at 82.65, pretty much where it closed out in North America Monday. The pairing garnered overnight support from talk of Kampo buying in low 82.30’s. Asian central bank buying was also noted.
If you’d told me a few weeks ago, the handle on USD/JPY would be 82 with 10 year US teasury yields having recovered back over the psychological 3% level, I’d have thought you were pulling my leg. But here we are. I for one am somewhat surprised. Not shocked, but certainly surprised.
Talk of sell orders now clustered up around 83.00, stops through 83.10.
