On the yen move, these are the earlier posts:
- BOJ’s Takata: Momentum is rising in spring wage talks. Yen jumps
- Yen climbs as Bank of Japan drops the clearest hint of a looming rate hike
- USD/JPY down after Takata remarks but near-term levels continue to hold for now
Besides that, there hasn’t been much activity among major currencies so far on the session. In fact, other dollar pairs are only seeing 0.1% change currently. And that speaks to the lack of appetite today and for the most part, this week.
Looking to the remainder of the day, we could get some injection of life when we get to US trading later.
The US PCE price index will be a key risk event to watch in terms of data releases. Then, we might also get some volatility surrounding month-end flows when we get to the London fix.
In the bigger picture though, the bond market will still have a say in things and it doesn’t look like there is much appetite to move just yet. But do at least keep a watchful eye on that just in case.
This article was written by Justin Low at www.forexlive.com.