JPY

USD/JPY losses accelerate on the day, under 146.70 now

USD/JPY extending its losses today

• Under 147.10 hit

Japan's LDP will hold its leadership election on September 27

• Incumbent PM Kishida is not standing

Japan seeking a 700 billion yen valuation for Tokyo Metro, listing as early as end-October

• US$4.7 billion valuation for Tokyo Metro, subway operator

JP Morgan says recent sharp equity market sell-off a ‘dress rehearsal’ for what’s to come

• JPM says it won't be a carry trade unwind the next time

Japan Machinery orders for June 2024: 2.1% m/m (expected +1.1%)

• A leading indicator of capital spending in the coming six to nine months

Newsquawk Week Ahead: Jackson Hole, Fed and ECB Minutes, Canada and Japan CPI, Flash PMI

• Next week highlights include the Jackson Hole Economic Symposium, Minutes from Fed, ECB and RBA, while inflation reports from Canada and Japan will be eyed, as will the global Flash PMI data.

Goldman Sachs: How are we thinking about USD/JPY from here?

• USD/JPY is down 117 pips to 148.11 today, giving back most of yesterday's gains

USD/JPY eases lower alongside bond yields on the day

• The pair is now down 0.8% to 148.10 currently

USDJPY Technical Analysis – Strong US data finally leads to a breakout

• The USDJPY pair broke out of its recent tight range following strong US data. What’s next?

Economists expect Japan's CPI to have ticked higher in July

• Higher inflation supports the Bank of Japan raising rates

Barclays frontloads next BOJ hike to January from April

• The falling currency today is certainly inflationary

USD/JPY retraces to the 38.2% Fibonacci level and stalls

• USD/JPY can't get above 149.34

Japan's Economy minister Shindo says wages and income will improve

• Comments following the solid Q2 GDP data

Barclays forecast the next Bank of Japan rate hike in January 2025 (prior April 2025)

• Bank of Japan interest rate forecast