Free Trial

Largely tracked Usd/Jpy weakness...........>

EURO-YEN
EURO-YEN: Largely tracked Usd/Jpy weakness overnight, the rate made a show back
under Y133.00 with slippage extending to Y132.69. Despite the release of strong
German Factory Orders (+0.5% m/m vs media -0.2%), recovery efforts have so far
remained shallow, Eur/Jpy last Y132.80. On the downside a break of the Asia low
opens Y132.67/64 (50-dma, Nov30 low), more techs at Y132.40 (61.8%
Y131.17-134.38).
* On the European calendar Bundesbank Board member Joachim Wuermeling will
deliver the welcome remarks at a portfolio day of Deutsche Bundesbank, in
Frankfurt, starting at 1000GMT. At 1030GMT, ECB Executive Board member Yves
Mersch speaks in Frankfurt.

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.