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JPY managed to buck the trend of.........>

DOLLAR-YEN
DOLLAR-YEN: JPY managed to buck the trend of broader USD strength on Thursday,
with a focus on Middle East tensions, as the JPY was buoyed by the previously
outlined hawkish comments from U.S. Defence Secretary Esper re: Iran. Rate
bottomed at Y108.21, before recovering as the USD's recovery from year-end flow
related losses gathered steam.
- The latest developments re: the Middle East, that we have previously outlined,
may have provided some light pressure to the pair in early Asia hours, with
liquidity still thinned out owing to Japanese holiday period. Rate last 17 pips
lower at Y108.40.
- Yesterday's low provides the initial target for bears.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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