Free Trial
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.
CZECHIA
- The rise in risk-aversion in recent days have led to a sharp consolidation in CZKJPY, which found support slightly below 5.30 earlier after reaching a local high of 5.4750 on Thursday.
- The 5.30 level is a pivot point on the pair (upward trending support line); a break below that level would open the door for a move down to 5.2810 (38.2% Fibo retracement of the 4.9670 -5.4750).
- Carry traders have been chasing the interest rate differential in recent months, going long CZK against currencies with a more ‘dormant’ central bank (i.e. BoJ).
- However, the Yen remains the risk-off currency to hold in periods of market turbulence and once again confirmed its ‘safe-haven’ status amid renewed Russia-related tensions.
Source: Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok