USDJPY mixed in early APAC trade

WSJ Tokyo @SuryatapaB

2044 ET – Lacking fresh trading cues ahead of the Thanksgiving holiday in the US and a national holiday in Japan, the dollar-yen “will continue to trade at the mercy of US Treasury yields,” says Stephen Innes, a senior trader at Oanda. US bond yields fell overnight amid investor concerns about growth and inflation. Federal Reserve policy cues and US tax reform news updates can support the dollar, but the news flow “has slowed to a drip” ahead of Thanksgiving, so investors will watch and wait, he says. USD/JPY is at 112.26 versus 112.44 in late New York trade.(suryatapa.bhattacharya@wsj.com ;@SuryatapaB)

WSJ/Dow Jones Wire

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

Latest posts by Stephen Innes (see all)