Free Trial

Dollar-yen triggered stops through.......>

DOLLAR-YEN
DOLLAR-YEN: Dollar-yen triggered stops through Y114.50 overnight, gains extended
to Y114.73 with some attributing the move to Governor Kuroda remarks on
inflation and will persistently continue powerful easing. Minor Pullback
encountered willing dip buyers ahead of Y114.20 to consolidate in narrow range
trade. Intraday support is seen at Y114.22/13 (Hourly low, 76.4% Daily
Y113.95-114.73). Topside resistance at Y114.73 (Asia high), a break here opens
Y114.81/88 (1.618% swing Y114.25-113.34, Mar15 high). Very light on the data
front in the US today with main focus on New York Federal Reserve Bank President
William Dudley who will speak on "Lessons from the Financial Crisis" at luncheon
hosted by the Economic Club of New York, in New York, with moderated Q&A at
1710GMT. Also a worthy reminder of the very large Y114.50 ($1.12bn)
option-expiry for today's NY cut. Fresh demand into Europe has seen the pair
extend its recovery to the Y114.40/45 area.

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.