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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.
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Dropped to Y108.23 into Tuesday's........>
DOLLAR-YEN: Dropped to Y108.23 into Tuesday's 1600BST fix, off an earlier
recovery high of Y108.68, before it recovered to Y108.51. Rate then settled
between Y108.40/50 through to the close. Early risk appetite, as markets reacted
to Trump comments on Sino-US trade talks to resume Wednesday, saw rate edge to
Y108.62 before it met headwind resistance (Asian traders have since suggested
that sell interest above Y108.60 appears to have thinned since). Rate dropped to
Y108.33 after MOF Asakawa said that currency issues discussed at G20. Rate has
extended this corrective pullback to Y108.24, holding just shy of the NY
pullback low of Y108.23 (off Y108.68), a break below Y108.20 to expose stronger
support into Y108.00. Asian traders have suggested demand toward the figure
linked to Y108.00 option expiries through to the end of the week amounting to
around $5bln ($2.96bln roll off at today's NY cut - $$2.71bln USD puts).
To read the full story
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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.