Sharp USD/JPY move above 107

Author: Eamonn Sheridan | Category: News

USD/JPY has been grinding higher in past hours and now its popped sharply through 107. Its run a few stops, that's pretty much the only 'news' on it

In a broader picture the USD has been displaying strength - price updates:


High in USD/JPY was around 107.46

Those familiar with this slice of the 24-hour cycle will know how illiquid it can be ... and is.
5.30pm in NY, 7.30am in Sydney ...
And .... with talk of 'intervention' around the markets as USD/JPY has fallen, there will be speculation that the sharp upmove was perhaps due to this. I've nothing to report whether it is or not as yet ... but it's a reasonable question and in terms of bang for buck spent, its not  a bad time to do so.
           
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