ANZ on why USD/JPY is going back above 106

ANZ Tokyo sees a higher USD/JPY

  • has more upside above 106
  • markets appear to be accepting the US 10-year Treasury yield will move above 1%,
  • the rise in U.S. yields could pull the dollar higher
  • technical outlook seems positive
  • Fed may not take action to contain the rise in US yields if it isn't extreme

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