USD/JPY is getting a lift from a push to the topside in US equity futures ahead of the open on Wall St. S&P futures are up a bit less than 2 points after spending most of the early New York hours about 2 points lower.
The US 10-year note has firmed through the 3% level. helping brighten the dollar’s mood. USD/JPY is getting the most benefit, as ever, from the firmer yields. It’s now back above 87.00, at 87.10 from 86.82 lows about an hour ago. Offers were heavy last time up at 87.20. Expect stops to be tripped if they are not around on this go.
EUR/JPY is getting a lift as well, Jumping about 50 pips in the last half hour to the 112.90 level. Offers are scattered in the 112.90/113.30 area.
A US investment bank was earlier spotted selling ahead of 1.2960.
The improved profit-outlook from Fed Ex ( a very economically sensitive stock) is helping improve risk appetites and global growth hopes.
