Across the FX space, Japanese Yen selling showed little signs of abating, having come off the back from its worst performance against the USD since 2014. Get your market update from JMcQueenFX here:
A new year, however, some trends seen at the back of last year remain. Equity markets have been off to a flyer with fresh record highs in the US, in which the tech giant, Apple, became the first company to reach the $3tln market cap milestone.
Across the FX space, Japanese Yen selling showed little signs of abating, having come off the back from its worst performance against thesince 2014. USD/JPY is now at its highest level since January 2017 after tripping stops through 115.50 overnight amid the surge higher in US yields .
A reminder that USD/JPY is among the closest correlated FX pairs to US yields and therefore it pays to keep a close eye on US fixed income
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