USD/JPY renews six year high near 120.00 as US T-bond yields refresh multi-day top By anilpanchal7 USDJPY YieldCurve RiskAppetite Ukraine BOJ
Yields rally as IMF’s Rhee joins hawkish Fedspeak, BOJ’s Kuroda and Ukraine-Russia crisis.Firmer yields and risk-off mood propelsto pierce the 120.00 psychological magnet while refreshing a six-year high during Tuesday’s Asian session. That said, the quote eases to 119.85 by the press time.
It’s worth noting that the benchmark US bond coupon rallied the most in three weeks the previous day after Atlanta Fed President Bostic and Richmond Fed’s Barkin promoted the US central bank’s ability to restrain inflation by indirectly signaling a faster pace of the rate hike. However, the comments from Fed Chairwho said, “The Fed will raise rates by more than 25bps at a meeting or meetings if necessary,” offered a major upside momentum to the T-bond coupons.
On a different page, the Ukraine-Russia crisis worsens as Ukraine President Volodymyr Zelenskyy mentioned that no immediate decision is possible on occupied Ukrainian territory per Interfax. Additionally, US President Joe Biden also cited fears of a cyberattack against the US.
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