The post The unwinding of JPY carry trades is showing signs of fatigue – OCBC appeared on BitcoinEthereumNews.com.

USD/JPY and AUD/USD are back above 145 and 0.65 this morning amid profit-taking in the Asia ex-Japan currencies, OCBC senior FX strategist Philip Wee notes. Risk aversion may be levelling off in the short-term “The Japanese Yen (JPY) initially rallied 3.4% against the Greenback (USD/JPY was 141.70) on Monday but retained 1.6% of its gains (144.18) by the end of the session.” “AUD/USD reduced its losses to 0.2% (0.6498) from 2.5% (0.6350) yesterday. Today, the Reserve Bank of Australia will likely push back against the market’s bet for a rate cut in November or December.” “USD/JPY and AUD/USD are back above 145 and 0.65 this morning amid profit-taking in the Asia ex-Japan currencies.” Source: https://www.fxstreet.com/news/the-unwinding-of-jpy-carry-trades-is-showing-signs-of-fatigue-ocbc-202408060947

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Filed under: News - @ August 6, 2024 3:28 pm