USD/JPY traces retreat in yields to ease from two-month high towards 137.00 amid US debt ceiling woes – by anilpanchal7 USDJPY YieldCurve BOJ Fed FiscalPolicy
Yields remain firmer amid receding banking woes, upbeat US data and equities.
Fresh fears surrounding US debt ceiling, cautious mood ahead of the key US data/events underpin USD/JPY upside. Also underpinning the pair’s upside could be the recently firmer US Treasury bond yields, as well as risk-positive headlines surrounding the First Republic Bank. However, the recent fears about the US debt ceiling expiration seem to prod the quote even if the Bank of Japan doves contrasts with the hawkish Federal Reserve bets to defend the USD/JPY bulls.
The same triggered chatters of US President Joe Biden’s call to four top US diplomats and arranging a meeting on May 09 made rounds. Further, US House of Representatives Speaker Kevin McCarthy mentioned that there is a bill sitting in the Senate as we speak that would put the risk of default to rest., backed by the upbeat US inflation clues via the Core PCE Price Index propel the USD/JPY prices to renew a multi-day high.
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