# USD/JPY remains closely correlated to US Treasury yields – Lloyds Bank — Octa

> Lloyds Bank says USD/JPY has traded in a 111 to 119 range this year and moves closely with US Treasury yields. It expects short-term scope for a reversal but forecasts yen appreciation toward 108 by end-2017, after the Fed's March hike and the BoJ's yield curve control.

- Date: 2017-03-22 · published 2017-03-22T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/72238-usd-jpy-remains-closely-correlated-to-us-treasury-yields-lloyds-bank-octa
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A stronger yen over the medium term would lower import costs for Japanese feed buyers, while rate divergence shapes global currency flows for commodities.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/423389/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.