MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

JPY Volatility Surges as BoJ Adapt Yield Approach

FOREX
  • JPY volatility surged overnight on the BoJ decision, at which the Bank surprised markets by tweaking yield curve control. The Bank are now to see the 0.5% ceiling for 10y rates as a reference point, and not a rigid limit - thereby signalling a change to the long-standing stance. The move had been trailled by a Nikkei news story late on Thursday, however significant market volatility still followed, with USD/JPY over 200 pips before fading into the European crossover.
  • JPY is left mixed against most others headed into NY hours, however has been the currency in the spotlight so far Friday.
  • GBP is firmer against all others in G10, allowing GBP/USD to recover off the overnight low. Nonetheless, most of G10 remains weaker against the USD after yesterday's sharp greenback rally. AUD and NZD are the poorest performers, with AUD/USD breaking a series of key supports to hit the lowest levels since early July.
  • Focus for the coming session rests on the national prelim German CPI release, followed by Canadian GDP and US personal income/spending data. The final reading for University of Michigan sentiment rounds off the week, with markets focusing on any inflation expectations revisions as they begin to capture the soft July CPI.
Energy BulletsCommodities
Energy BulletsCommodities

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.