💱Kiwi, Yen Regress The Most Vs USD: Cable FX Macro

**As seen in Macro Walk report 02/24/23, cablefxm.co.uk/reports

• Our measures of FX spot relative to its respective 100DMAs show dollar pairs regressing to the U.S. dollar as it strengthened across the board

• The regression to the mean was more evident in the NZD/USD and USD/JPY pairs, the former recorded a 7.10% 100DMA to spot differential a month before, now it stands near flat at 0.76%

• In the yen, the extension was the largest seen in three years as the spot reached readings below -8.0% vs its 100DMA, now it stands at -1.87%