"USDJPY is trapped between widening US-Japan yield differentials and risk-off flows, with movement contained around 115. The safe-haven function of US
- “USDJPY is trapped between widening US-Japan yield differentials and risk-off flows, with movement contained around 115. The safe-haven function of USD and JPY currencies has likely also suppressed USDJPY volatility”
“We recommend being tactically long USDJPY spot to capture the upside if risk sentiment stabilizes”
Barclays targeting spot USD/JPY towards 118.60
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