USD/JPY: wary of testing the 108 handle - OCBC Bank

FXStreet (Guatemala) - Emmanuel Ng, FX Strategist at OCBC Bank explained that a safe haven bid in US Treasuries and the resultant fall in yields helped to depress the USD/JPY further on Tuesday.

Key Quotes

“But note that the smaller than expected August current account surplus may temper the pair’s heaviness”.

“Look to the BOJ’s Monthly Economic Report (0500 GMT) for further cues intra-day and we remain wary of another test below 108.00 given prevailing risk appetite conditions."