A variety of explanations are being used to account for the explosion in USD/JPY. Choose from among:
- Demand at the 16:00 GMT fixing
- Toushin demand ( Japanese investment trust products aimed at retail investors who want offshore exposure)
- rising US yields
I’ll go with all the above…
USD/JPY has broken to fresh session highs but should find offers toward 91.50 from Japanese exporters.
