Free Trial

*Dollar-yen open Y109.71, range.........>

YEN SUMMARY
YEN SUMMARY: *Dollar-yen open Y109.71, range Y109.55 to Y109.92
*Dollar-yen opened in Asia toward the upper side of Tuesday's Y108.27 to Y109.90
range, where upbeat US consumer confidence data prompted further short-covering
from the risk-off trade seen in Asia following the N. Korean missile launch.
*After drifting lower to Y109.55 in early trade, demand into today's Tokyo-fix
took hold to send the dollar higher from near Y109.60 to Y109.92
*Once that interest had concluded, the dollar inched lower to Y109.67 in quiet
trade and heading towards the European open trades at Y109.72, precisely where
it started the day
*Hourly support is located at Y109.55, a break opens Y109.29 (38.2%
Y108.27-Y109.92), while Asia's top of Y109.92 provides resistance. Sources note,
supply on an approach to Y110.00, stops are parked above Y110.05, with fresh
supply seen into Y110.40

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.