Free Trial

Extended its corrective pullback, away...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Extended its corrective pullback, away from Tuesday's high of
Y110.22, to Y109.82 in early Asian business Wednesday, as market reacted to a
RTRS source piece pointing to the White House's new plans to target Huawei & a
WSJ report stating that the U.S. and China are set to continue their battle over
technology. This knock to the current risk outlook was given some reprieve as
U.S. Treasury Sec Mnuchin, in an interview with Fox News, said President Trump
may consider removing tariffs under Phase 2 deal. Rate recovered though remained
below Y110.00. 
- Support seen at Y109.75/70 (Y109.70 200-wma, key at Friday's close).
Resistance seen into Y110.00 again(expiry Jan16 for $1.82bln), more at and above
Y110.10 through to Tuesday's high of Y110.22.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.