Free Trial

Dollar-yen: Sep26 close Y112.25,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Sep26 close Y112.25, Sep27 Asia range Y112.22-54,
Europe Y112.35-95
*Euro-yen: Sep26 close Y132.33, Sep27 Asia range Y132.32-57, Europe Y132.32-64
*Details of Trump's tax framework hit the wires in early Asia, this gave the
dollar a lift to Y112.54 after it was reported to cut corporate rate to 20%
*The rally ran into Japanese exporter sales, said to be half-yearly hedging
requirements. Tokyo-fix related supply with added weight from the Alabama
Republican primary result saw the rate quickly pare gains
*Firmer UST yields provided the appetite into Europe, dollar-yen moved through
the Asia high to Y112.57
*The dollar continued firm throughout the European morning ahead of President
Trump's speech on tax reform in Indiana at 2100GMT
*Stops were triggered on the break of Y112.80, gains extended to Y112.95 before
meeting reported supply ahead of the Y113.00 barrier
*Euro-yen initially held a narrow 15 pip range, but did finally breakout to
fresh daily highs of Y132.64. Yen pairs last Y112.90/Y132.57.

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.