Firmer US yields and expected equity outflows based on a rebalancing of the MSCI global index which is expected to lower Japan’s weighting are helping to spur the latest USD/JPY rally. We’re at session highs of 81.69, eying recent highs of 81.77. Small stops are eyed in the 81.80/85 area. Fresh offers are seen toward 82.20 as the 100-day moving average sits just above that level.
