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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.
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Greenback, Yields Moving in Lockstep as USD/JPY Fails to Crack Resistance
- Greenback continues to move in lockstep with the reversal in the front-end of the US yield curve, with EUR/USD now having rallied close to 75 pips off the initial NFP lows.
- Price action this week has raised questions over whether the USD recovery has been corrective, or a broader reversal follow the turn of the year, and USD/JPY's failure to top the 50-dma today will argue in favour of a correction, with the fade off highs keeping the RSI looking broadly neutral - alleviating the previously oversold condition.
- EM currencies have also been a major beneficiary from the reversal, with USD/MXN a standout and trading well back below 17.00 to narrow the gap with 16.8615, the late Dec low and bear trigger for the pair.
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.