The USD/JPY pair renews its upward trajectory after a brief pause.
The Japanese yen is once again weakening against the US dollar. Currently, the USD/JPY exchange rate is at 149.14.
There’s no official confirmation of interventions by the Bank of Japan. USD/JPY rates are slowly reverting to pre-emotional turmoil levels.
On the global stage, conditions are stabilizing. The yield on US government bonds has decreased, offering some support to the yen. However, despite this drop, the spread between ten-year interest rates in Japan and the US remains relatively narrow at 390 points.
Naturally, the market closely monitors this spread. Data from the Ministry of Finance reveals that residents have significantly invested in foreign bonds, totaling around 3.34 trillion yen. The majority of these investments are in US Treasury bonds.
The post USD/JPY Gains Momentum: Overview for October 12, 2023 appeared first at R Blog – RoboForex.