MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

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MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

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MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

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50 pips swing in USDJPY

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  • Following the big beat in US PMIs, and subsequently the move higher in US Yields, USDJPY has breached back above 157.00.
  • As previously noted, next upside area of interest will be at 157.59, not a tech level, but where it was trading on the Second supposed intervention on the 1st May.
  • Latest flow saw, a quick 50 pips move in USDJPY, fell from the high down to 156.68 and back above 157.00, with the move led by selling interest on the CME with 6k JPYM4 bought.
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  • Following the big beat in US PMIs, and subsequently the move higher in US Yields, USDJPY has breached back above 157.00.
  • As previously noted, next upside area of interest will be at 157.59, not a tech level, but where it was trading on the Second supposed intervention on the 1st May.
  • Latest flow saw, a quick 50 pips move in USDJPY, fell from the high down to 156.68 and back above 157.00, with the move led by selling interest on the CME with 6k JPYM4 bought.