ING Bank 1/4: #USDJPY: What seems a clear run higher for US Treasury yields warns of $USDJPY retesting 111 this week. Failure in the 110.20/50 area would be a surprise. The highlight of the week will be PM Suga’s visit to Washington – the first leader hosted by President Biden.
ING Bank 2/4: Presumably the pandemic will top the list of discussion topics, though China will be keenly listening for any remarks on Taiwan. The visit comes at a time when #USDJPY is far from any sensitive levels, although Japanese exporters will clearly be a lot happier
ING Bank 3/4: than their counterparts in the US. And it would seem a little incongruous for President Biden to try and talk #USDJPY lower.
ING Bank 4/4: The market is not paying much/any attention to Japanese data at the moment and instead what US data means for US yields will be the driving theme this week.
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