FW: [Maybank] Higher USDJPY Belies Monetary Divergence Plays

 

 

Higher USDJPY Belies Monetary Divergence Plays Global Markets Daily by Saktiandi Supaat FX Research The USDJPY bounced above the 107.80-figure at one point this morning, buoyed by hopes for a "trade truce" to be reached between the US and China. However, risk appetite is unable to tell the full story for USDJPY moves in the past week as we saw S&P 500 headed south in the same period. With UST 10y yields on its way towards the 3% level again, widening UST-JGB yield differentials could be driving the UDSJPY higher. We look for this pair to head towards the 108.50-mark... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Fiona Lim     (65) 6320 1374     fionalim@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.