Free Trial

Dollar-yen: European open Y109.95,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y109.95, range Y109.66-110.08, NY open
Y109.84, range Y109.56-
*Sharp eur-chf sales triggered fresh risk-off. Dollar-yen took out the Asia low,
triggered stops through Y109.70 to print Y109.66. Dip buyers emerged pushing the
rate towards Y109.90
*Soft UST yields triggered fresh dollar supply into NY, rate slipped to Y109.74
*Persistent dollar supply in early NY extended to fresh daily lows of
Y109.56 before meeting demand and bouncing towards Y109.75
*Fresh wave of dollar buying extended the recovery off earlier traded
lows (Y109.56) to hold around the Y109.85/90 area.
*As US Tsys yields trimmed back some of their losses, usd/yen  followed suit
with the rate jumping back over Y110.10.
*As oil dropped and US Tsys yields slid, we witnessed the rate follow
suit with the pair dropping from Y110.10 towards Y109.85, into the NY close.

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.