USDYEN : waiting for Powell!
USD/JPY bid but holds under 109 ahead of Powell testimony
• USD/JPY bid on Gotobi Tokyo fix demand, Asia 108.85 to 108.99 before fade
• Offers ahead of 109.00 vacuumed but plenty more at 109.00, beyond
• Some specs eyeing stops 109.00+ but Japanese exporters, option players await
• USD 1.8 bln 109.00 option expires today, tomorrow 109.00-50 total 3.5 bln+
• US yields firm pre-Powell testimony, Tsy 10s @2.074%, Asia high 2.086%
• Powell talk tonight could prove decisive for USD going forward
• USD/JPY bid on Gotobi Tokyo fix demand, Asia 108.85 to 108.99 before fade
• Offers ahead of 109.00 vacuumed but plenty more at 109.00, beyond
• Some specs eyeing stops 109.00+ but Japanese exporters, option players await
• USD 1.8 bln 109.00 option expires today, tomorrow 109.00-50 total 3.5 bln+
• US yields firm pre-Powell testimony, Tsy 10s @2.074%, Asia high 2.086%
• Powell talk tonight could prove decisive for USD going forward
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