Free Trial

Dollar-yen: Oct24 close Y113.83,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Oct24 close Y113.83, Oct25 Asia range Y113.75-98,
Europe Y113.74-114.17
*Euro-yen: Oct24 close Y133.85, Oct25 Asia range Y133.78-134.11, Europe
Y133.76-134.36
*Dollar-yen eased lower from Y113.98 to Y113.75 in early Asia, the move was
largely driven by Aussie-yen following the release of soft Australian CPI data
*As the Nikkei recovered off earlier lows, rate pared gains, squeezed to Y113.98
but failed to take out strong supply here linked to the very large $2.14bn
option-expiry for today's NY cut
*Minor pullback encountered willing dip buyers ahead of Y113.70 into Europe
*Persistent cross demand (particularly stg-yen following strong UK GDP) provided
fresh appetite, rate moved through Y114.00 with ease, triggering stops on the
move to Y114.17
*Euro-yen initially supported by well received German IFO data, largely held in
narrow range trade, before it too surged post UK GDP. The break of Y134.00
spiked to extended highs of Y134.36 and holds firm.

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.