SEK, JPY, EUR flows: SEK softer after CPI, JPY shorts at risk

May 15, 2024 6:31 AM UTC

SEK softer after slightly lower than expected CPI; NOK/SEK has potential for gains. JPY weakness overextended

USD, JPY, EUR flows: JPY down after firm US PPI

May 14, 2024 12:58 PM UTC

USD initilaly gained across the board after PPI, but riskier currencies recovered and JPY weakness on the crosses is the main impact

USD, JPY flows: FX steady but USD downside risks rising

May 13, 2024 6:37 AM UTC

USD steady in quiet trading but rising JGB yields and softer US data suggest USD/JPY downside risks

JPY flows: JPY still soft despite hawkish BoJ

May 9, 2024 6:35 AM UTC

Boj sounded hawkish, but JPY softer as cash earnings disappoint. 

EUR/USD Flows: Sideways but Policy and Ukraine in Focus

May 6, 2024 7:17 AM UTC

Quiet conditions with the UK closed, but some focus on Fed and ECB prospects. 

USD flows: USD softer after FOMC and BoJ raid

May 2, 2024 6:50 AM UTC

USD falls back with US yields with BoJ amplifying JPY strength

JPY flows: BoJ intervention triggers sharp reversal

April 29, 2024 6:51 AM UTC

Reported BoJ intervention has triggered a 5 figure drop in USD/JPY in late Asia trade. The upside now looks capped near term, and there is scope for a huge decline, but lower US yields look necessary to trigger it.

JPY flows: New JPY lows after BoJ meeting

April 26, 2024 6:52 AM UTC

There was no indication of further imminent tightening from the BoJ, and this led to new JPY lows. But US yields continue to be the main driver of JPY weakness, and overnight JPY decline may consequently be overdone

JPY flows: JPY weakness intensifies, intervention possible, but...

April 25, 2024 7:07 AM UTC

JPY weakness intensified overnight and increased the potential for intervention. This may be seen in the next few days, and the JPY does have potential to rally sharply given the huge real decline in recent years. But a turn higher in risk premia looks necessary to trigger a long term reversal of cu

AUD, JPY, SEK flows: AUD firm, JPY weak, SEK down slightly

April 24, 2024 6:55 AM UTC

AUD benefits from strong CPI, JPY remains under pressure in risk positive trading, SEK reocvery moderated by higher unemployment

USD, EUR, JPY, CHF flows: JPY under pressure as risk sentiment recovers

April 22, 2024 6:56 AM UTC

USD/JPY and EUR/JPY testing the highs. EUR/USD steady

GBP, EUR, JPY, CHF flows: GBP little changed after retail sales, scope for risk recovery

April 19, 2024 6:33 AM UTC

UK retail sales remain quite flat, GBP little affected. Risk sell off overnight may be further reversed with tension dissipated

USD, EUR, JPY, AUD, GBP flows: USD softer as yields dip

April 18, 2024 6:52 AM UTC

USD corrected lower with US yields overnight. Little news scheduled today but Fed speakers could drive trade. GBP softer after Bailey comments

JPY, AUD flows: JPY weakness reaching pain threshold

April 17, 2024 2:01 PM UTC

JPY weakness still being driven by declining risk premia, but some action needed from Japanese authorities soon if they are to avoid losing credibility.

JPY flows: JPY spike probably not intervention, but...

April 16, 2024 2:04 PM UTC

The sharp JPY spike after the US equity market open doesn't look like intervention, but the threat remains

EUR, USD, CHF, JPY flows: CHF and JPY gain ground as yields and equities fall

April 12, 2024 1:13 PM UTC

Declining yields and equities in both Europe and US putting JPY and CHF on the front foot

USD flows: USD firm post-CPI, BoJ holding fire

April 11, 2024 7:05 AM UTC

USD holding onto post-CPI gains. BoJ to keep powder dry as long as JPY weakness is only seen against the USD

USD, EUR JPY flows: USD up strongly after US CPI

April 10, 2024 12:51 PM UTC

USD makes general gains on strong US CPI as US yirlds rise. Risky currencies fall most sharply

USD, CHF, EUR, JPY flows: Risk negative tone overnight could extend

April 5, 2024 7:08 AM UTC

Risk sentiment turned negative overnight on talk of an Iranian attack on Israel. Some scope for extension, with such an attack a real possibility.

USD, JPY, EUR flows: USD firm after ADP, JPY bears the brunt

April 3, 2024 1:46 PM UTC

USD/JPY testing 34 year highs but JPY crosses may be easier to buy

USD, EUR, JPY flows: EUR edges lower after softer German state CPI

April 2, 2024 8:22 AM UTC

EUR softer but downside still looks limited near term

JPY flows: Downside risks increasing for USD/JPY

March 25, 2024 7:58 AM UTC

Yield spreads suggest significant downside risks, while intervention threats cap the upside

JPY flows: Another new 16 year high in EUR/JPY. Don't blame the BoJ

March 20, 2024 8:49 AM UTC

EUR/JPY made another new 16 year high this morning, as JPY weakness extended. But we see the JPY weakness as related to low equity risk premia rather than the latest BoJ decision and guidance.

JPY flows: JPY weaker despite rate hike

March 19, 2024 7:38 AM UTC

JPY weakens even though BoJ hiked rates and removed YCC, which was on the hawkish side of market expectations

JPY flows: JPY steady ahead of BoJ

March 18, 2024 8:08 AM UTC

JPY steady ahead of BoJ. Risk of tighter policy greater in April than in March, so modest JPY decline liekly on no policy change. Bigger JPY gains likely if BoJ tighten.

JPY flows: JPY marginally firmer, but scope for bigger gains on BoJ

March 15, 2024 7:46 AM UTC

JPY not much affected by Finance minister Suzuki's comment tha deflation is over, but JPY upside risks are increasing

JPY flows: JPY gains as yields slip in the US and Europe

March 8, 2024 9:53 AM UTC

Lower yields in the US and Europe are extending JPY strength today. We are sceptical that these yield declines are justified by recent Fed and ECB comments, but JPY strength looks well justified nevertheless.

EUR flows: EUR softer after ECB acknoweldges progress on inflation

March 7, 2024 1:57 PM UTC

EUR lower as EUR front end yields fall follwoing ECB statement. 

JPY, AUD flows: AUD softer o/n, JPY has upside scope

March 5, 2024 7:56 AM UTC

AUD softens as regional equities slip, JPY unaffected by Tokyo CPI but yield sreads suggest upside scope

JPY, CHF flows: CHF recovering after CPI but gains to be short-lived

March 4, 2024 8:04 AM UTC

CHF gains on slightly smaller than expected decline in Feburary CPI, but CHF downside still favoured with CHF/JPY the best value trade.

USD, EUR, JPY flows: Steady picture, JPY still vulnerable

February 27, 2024 7:52 AM UTC

Steady picture. JPY recovers a little after Japanese CPI. EUR range bound

USD, EUR, JPY flows: Steady picture, JPY still vulnerable

February 26, 2024 7:39 AM UTC

Steady picture but JPY risks on the downside ahead of Japanese CPI

USD, EUR, JPY flows: EUR holds its own, JPY to remain under pressure

February 23, 2024 7:50 AM UTC

Firm yields and firm equities keep the JPY under pressure

USD, JPY flows: USD and JPY weaker as equities strengthen

February 22, 2024 7:51 AM UTC

More new multi-year JPY lows on the crosses overnight as equity markets continue to rise

USD flows: USD gains strongly on PPI

February 16, 2024 2:20 PM UTC

PPI well above expectations pushing US yields and the USD higher. Negative equity response so far quite modest, suggesting the JPY will remain under pressure. 

USD, EUR, JPY flows: USD starting softer as yields slip

February 12, 2024 8:15 AM UTC

Yield spreads pointing lower for the USD

JPY flows: JPY continues to weaken

February 9, 2024 8:54 AM UTC

JPY continuing to weaken as US equity futures hit new highs