Free Trial

Dollar-yen: Aug23 close Y108.97,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Aug23 close Y108.97, Aug24 Asia range Y108.85-109.25,
Europe Y109.07-42
*Euro-yen: Aug23 close Y128.75, Aug24 Asia range Y128.55-96, Europe
Y128.70-129.00
*The risk-off theme continued in early Asia, dollar-yen slipped from around
Y109.00 to a base of Y108.85, with a Japanese Trust name a noted seller
*Tokyo-fix related demand and a 'decent' buyer of Euro-yen pared losses, rate
reclaimed Y109.00 with gains extending to Y109.25
*Pullback off the high with added weight via the crosses extended to Y109.07 in
early Europe
*As UST yields started to firm, dollar-yen moved through the Asia high with
ease, any pullbacks remained shallow, dollar-yen managed to grind out a fresh
high of Y109.42
*Euro-yen encountered demand ahead of Y128.70 and recovered to the Y128.80/85
area. Short covering briefly touched Y129.00 but failed to take out the reported
offers placed here, rate later drifted to Y128.90 following mixed UK GDP data.

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.