The USD is the strongest while the JPY is the weakest of the major currencies

The USD is the strongest and the JPY is the runaway weakest of the major currencies Currencies Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the popu Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the popu Read this Term.

The Bank of Japan intervened in the JGB market buying 5-10 year issues in an attempt to keep rates at its policy target rate. The actions sent the USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term to the highest level since August 12, 2105 when the currency pair reached 125.27. The price has backed off a bit from the peak but is still higher by 1.70%. The JPY is lower versus all the major currencies by 0.98% to 1.7%. The AUDJPY, which is up for 8 consecutive weeks, is off to a good start in week 9 with a gain of 1.68%.

US stocks are trading higher although Apple is lower on demand concerns. Apple said it would cut iphone SE output by 20%. Apple did win Best Picture with it's movie Coda so it was not all bad. Tesla meanwhile is up over 6% after reports it is looking to split it's stock.

Oil is sharply lower after Shanghai goes on a Covid rolling lockdown schedule. Zelensky peace talks continue with the Ukraine leader willing to accept permanent neutrality as a basis for peace. It also is willing to talk about negotiations about Eastern Ukraine and Crimea.

A look around the markets is showing:

• Spot gold is trading down $27.54 -1.41% $1930.10
• Spot silver is down $0.49 or -1.93% at $24.98
• Crude oil is trading down seven dollars at $107.68
• Bitcoin is trading at $47,300 after the search over the weekend took the price from a low on Saturday of $44,101

In the premarket for US stocks, the major indices are trading marginally higher

• Dow industrial average is up 62.76 points after Friday's 153.3 point rise
• S&P index is up nine points after Friday's 22.88 point rise
• NASDAQ index is up 44 points after Friday's -22.54 point decline

The European equity markets, the major indices are mixed:

• German DAX, +2.17%
• France's CAC, +1.92%
• UK's FTSE 100 +0.6%
• Spain's Ibex +1.7%
• Italy's FTSE MIB was 2.0%

In the US debt market, the yields are mixed with the shorter end continuing to move higher as Fed expected tightenings continue to push higher while the longer end sees a modest decline

In the European debt markets, the yields are higher in the benchmark 10 year sector