💹Japanese Yen Trades Mixed vs G10: Cable FX Macro
- Rosbel Durán
- Aug 25, 2024
- 1 min read
We saw a continuation of yen strength vs major currencies, however, trading was mixed as the kiwi, franc, and sterling posted gains. Overall, last week was choppy for the G10 while Friday saw the most moves on Powell's speech
10-year JGB yields rebounded by almost 2bps on the week, while the UST equivalent fell 7.2bps. This is something the USD/JPY can't ignore for long periods of time, and the chart below shows the result
A strong correlation to rates kicked in over the last five sessions as CHF paper underperformed, benchmark 2-year yield up 2.3bps on the week. Kiwi and sterling saw similar performances on a relative basis
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