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USD/JPY yield spread a drag today

USD/JPY big 125-126 expiries today, 1-mo volume down at late-May levels; RRs barely bullish Tenkan & Fri's low at 124.31/36; stops past 126, but yield spread a drag today Post-NFP surge toward 126 not confirmed by new RS…

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  • USD/JPY big 125-126 expiries today, 1-mo volume down at late-May levels; RRs barely bullish

  • Tenkan & Fri's low at 124.31/36; stops past 126, but yield spread a drag today

  • Post-NFP surge toward 126 not confirmed by new RSI high or options pricing

  • JPY GDP revision got no help from dom consumption; Capital Account surplus key 

  • Japan pensions, banks bid on dips into 125 & 124; Specs very long again on IMM

  • Thur's US Retail Sales next key event

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