MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI BRIEF: Japan Q1 GDP Revised Lower On Public Investment

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Services Inflation Potentially A Touch Softer; Food Prices Jump

Nominal Wage Growth Moderates In April, But Real Wages Remain Positive

MNI Projects 2.2-2.3% Y/Y National CPI, Core CPI Around 2.9%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPY Crosses Counter USD/JPY Recovery Efforts.

JPY
MNI (London)
  • Headline in the Nikkei Asian Review that PM Suga had told the finance ministry to make sure USD/JPY did not cross the Y100 mark prompted demand into Tokyo that saw USD/JPY touch Y103.56.
  • However, remarks were made back in November, noting that Japanese exporters need rate to hold above Y100.20 to generate a profit.
  • However, JPY demand via crosses acted to counter this early move and helped to press rate down to Y103.25 before rate recovered to Y103.50 in a general paring of USD shorts, helped in part by the US fiscal stimulus agreement in the US.
  • Rate had eased to Y103.42 into early Europe.
  • Support seen at Y103.25/20 ahead of Y103.00, this latter level holding the strikes of a total of $3bln USD puts Mon-Tue-Wed, which should add to protective buying ahead. Resistance Y103.50/60.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.