Free Trial

Dollar demand following the warning......>

DOLLAR-YEN
DOLLAR-YEN: Dollar demand following the warning from S Korea's government on one
sided FX movements spilled over into Europe, Usd/Jpy squeezed to fresh 2018
highs of Y113.39 before fading. Rate started to pare morning gains with slippage
extending to Y113.05 ahead of NY. The Asia base provides initial support at
Y113.02, opening Y112.95/87 (55 & 50-dma's). Very light on the US calendar this
afternoon with main highlights at 1740GMT, the US Atlanta Federal Reserve Bank
President Raphael Bostic to speak on "Economic Outlook and Monetary Policy" at
the Rotary Club of Atlanta in Atlanta, with audience and media Q&A. Next up at
1835GMT San Francisco Bank President John Williams is to participate in a panel
on "Should the Fed Stick with the 2 Percent Inflation Target or Rethink it?" in
Washington, with audience Q&A. Option-expiries today at Y111.75-80($595mn),
112.00($522mn). Last Y113.06. 

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.