USD/JPY runs higher as yields jump.More talk on the US unemployment rate
USD/JPY has extended today's gain to 30 pips and 132.43.
USD/JPY initially opened lower but is now reacting to higher US Treasury yields. Friday was a mess of trading with most markets closed and bond trading thinned but ultimately SIFMA didn't recommend a market close and yields rose, though it was hard to tell what the liquidity was like.
Skip ahead to today and the market is still holiday-thinned but US 2s are showing 12 bps above Thursday's closing levels.
Here's a rule of thumb that people are talking about after NFP: The idea is that once US unemployment rises 0.3 percentage points from the lows, a runaway climb is almost inevitable. It rose 0.2 pp in February but took back 0.1 pp on Friday.
This article was written by Adam Button at www.forexlive.com.from Forexlive RSS Breaking News Feed https://ift.tt/u2FGn0l
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
