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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI POLITICAL RISK - Trump Tariffs Initiate Talks With Mexico
AUSSIE-YEN: AUD/JPY last deals at Y75.01, a dozen....>
AUSSIE-YEN: AUD/JPY last deals at Y75.01, a dozen pips worse off, amidst broader
risk-off flows triggered by global trade worries. Worth noting Australian AiG
m'fing PMI decelerated to 52.7 from 54.8, but no immediate reaction in AUD/JPY
has been noted.
- Over the weekend, U.S. President Trump kept up his combative trade rhetoric,
claiming that "foreign countries have been robbing and deceiving [the U.S.] for
years." Elsewhere, China published a White Paper re: the U.S. trade
negotiations, which blamed Washington for the breakdown in talks.
- This comes after AUD/JPY slumped 64 pips, bottoming at Y75.09 (already
breached today), the worst level since Jan 4. The move was driven by JPY
outperformance, as investors were looking for safety amidst escalating trade
tensions after U.S. Pres Trump unexp. announced fresh tariffs on Mexico. A
recovery attempt in Europe held shallow, and the rate slid into the close.
- Below the lower 1.0% 10-DMA envelope at Y74.90 exposes the 61.8% fibo
retracement of the YtD range at Y74.49. Bulls need a break above Friday's/Jan 4
lows of Y75.09/24 before challenging Y75.79, where the rate peaked on Friday.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.