Technical Analysis

US dollar stumbles as the risk mood improves

USDJPY 30 mins

USD/JPY is at a session low, down 120 pips to 133.29 as part of a broad US dollar selloff. The decline has extended since the release of an in-line jobless claims number.

It’s all about flows at this time of year as market participants position for 2023. S&P 500 futures are now up 30 points to 3836, or 0.8% in a strong rebound from yesterday’s slump.

Bond market trading is thin but there’s some pain there for the US dollar with US 10-year yields down 3 bps to 3.85% on the day.

The claims data is the only thing on today’s US economic calendar so it will be all about the ebb and flow from here.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button