Forexlive European FX News 11 Oct: JPY weakness sends the USDJPY higher to 113
Risk leans on, but risk remains Other markets FTSE +0.32% Dax -0.47% CAC -0.34% Bitcoin +2.77% Gold -0.14% US oil +2.95% Markets started risk on to start the week with the absence of any immediate fear. The JPY pairs were all higher as Prime Minister Fumio Kishida's said that he isn't considering capital-gains tax changes at present. the USDJPY touched 113 before pulling back. the continued rise in US 10 year yields really helped add to the shove higher. Oil markets kept pushing higher on the three main drivers of low inventories, rising demand, and skilled OPEC market communication. The GBP trades higher too post the comments from the weekend out of Governor Bailey and Saunders around inflation concerns. EURGBP worth a look at as the German/UK bond yield spread sinks lower. The negotiations over the N.Ireland protocol will be a risk going forward for sudden moves in the GBP .A wider question exists over much further GBP upside. The question is ...
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