USD/JPY tracks firmer risk reversal to renew monthly high above 116.00

USD/JPY rises 0.30% as it refreshes monthly peak of 116.29, around 116.12 by the press time of the pre-European session on Thursday.

In doing so, the risk-barometer pair tracks the 16-month high risk reversal (RR) to keep the buyers hopeful during the four-day uptrend.

That said, the weekly print of RR, a gauge of calls to puts, marked 0.6000 level at the latest, per data source Reuters. The figures become the highest count since late November 2020. On a daily basis, the options market gauge rises for the fourth consecutive day with the latest print of 0.050.

It’s worth noting that the market’s rush towards the traditional safe-havens, like the US dollar, amid the ongoing Russia-Ukraine tussles, as well as hopes of faster rate-hikes by the US Federal Reserve (Fed) also underpin the USD/JPY upside.

Read: USD/JPY tracks Nikkei’s best jump since June 2020 to poke 116.00, Ukraine, US inflation in focus