Free Trial

Dollar-yen: European open Y112.62,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y112.62, range Y112.36-112.73, NY open
Y112.44, range Y112.22-112.74
*The release of soft PCE Core data triggered sharp dollar sales,
dollar-yen printed a new intra-day low of Y112.32, before dip buyers cushioned
falls. 
*The dollar staged a minor recovery off earlier traded lows (Y112.22)
to hold around the Y112.35/40 area.
* A rise in the MNI Chicago Business Barometer has seen dollar-yen
grind to Y112.60.
*A further bout of dollar demand as the WSJ reported that "Trump is
said to meet with Warsh about Fed chair post", Warsh is considered to be more
hawkish than Yellen. The rate spiked to fresh intra-day highs of Y112.74 before
meeting supply and dropping towards Y112.55.
*A small lift in the dollar following US Tsys yields moving higher
and XAU slipping has seen the rate grind towards the intra-day high of Y112.74.
*As US Tsys yields slipped the rate drifted towards Y112.45 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.