Free Trial

Dollar-yen: Oct20 close Y113.45,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Oct20 close Y113.45, Oct23 Asia range Y113.65-114.10,
Europe Y113.62-88
*Euro-yen: Oct20 close Y133.58, Oct23 Asia range Y133.66-134.13, Europe
Y133.61-90
*News of Abe's resounding victory in the Japanese elections saw dollar-yen gap
higher at the open and climb steadily to Y114.00 
*Abe's coalition election win gives him a mandate to continue with existing
fiscal expansion and pro-growth structural reforms
*Supply at Y114.00 was eventually absorbed, the rate climbed to a session high
of Y114.10 before supply from Japanese exporters countered
*Dollar-yen was quick to pare gains with UST yields and later settled Y113.68/73
*Selling pressure resumed into Europe, rate touched pullback lows of Y113.62
before dip buyers cushioned falls
*The euro encountered mild selling pressure, euro-yen eased to Y133.61, but
later recovered to the Y133.70/75 area. Dollar-yen tracked the move to hold
Y113.80.

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.