Free Trial

*Dec5 dollar-yen open Y112.41, range....>

YEN SUMMARY
YEN SUMMARY: *Dec5 dollar-yen open Y112.41, range Y112.38 to Y112.58
*Dollar-yen opened in Asia at the lower side of yesterday's Y112.37 to Y113.09
range, where the dollar surrendered all gains late in the US session as UST
yields weakened and equity gains fizzled out
*Steady demand just after the open pushed the dollar from near Y112.40 to
Y112.58 before meeting supply
*Dips were limited to Y112.38. Japanese accounts were the reported buyers that
pushed the dollar back to Y112.56
*Real money accounts then bought in the low Y112.50's taking the rate to a
session high of Y112.63
*Hourly support is located at Y112.37/38, while hourly resistance is located at
Y112.85, a break to open Y113.00/09 (Option expiry $816mn, Dec4 high).

To read the full story

Close

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.