Hi
11 June-The Japanese Yen (JPY)fell against the USD on the back of surging treasury yields. The USDJPY climbed 0.6% amid reduced expectations of interest rate cuts by the Federal Reserve. In other news Minister of Finance Watanabe stated that there were no immediate risks of unwinding of carry trades. Overall the USDJPY traded with a range of a low 120.77 and a high of 121.84 before closing the day at 121.68 in the New York session. Looking ahead GDP data for the first quarter is expected to be confirmed at 0.8% for the q/q (Previous: 0.6%) and 3.1% for y/y.