USDJPY 30 mins
USD/JPY is at a session low, down 120 pips to 133.29 as part of a broad US dollar selloff. The decline has extended since the release of an in-line jobless claims number.
It’s all about flows at this time of year as market participants position for 2023. S&P 500 futures are now up 30 points to 3836, or 0.8% in a strong rebound from yesterday’s slump.
Bond market trading is thin but there’s some pain there for the US dollar with US 10-year yields down 3 bps to 3.85% on the day.
The claims data is the only thing on today’s US economic calendar so it will be all about the ebb and flow from here.
