Free Trial

Little to pen for the JPY in general,....>

DOLLAR-YEN
DOLLAR-YEN: Little to pen for the JPY in general, as it benefits from a tick
lower in global equity markets and outperforms amongst G10. Modest JPY strength
likely linked to comments from U.S. trade advisor Navarro, who suggested that it
is unlikely that there will be a quick breakthrough in Sino-U.S. trade talks.
- Elsewhere, BoJ's Suzuki offered little in the way of fresh insight in his
latest address.
- Flow wise, a source highlighted Japanese banks selling the pair during the
Tokyo morning.
- Bearish conditions remain in place and the recent failure ahead of 107.00
continues to weigh on the pair. Risk remains for a break of 104.46 that would
open 104.00 and the 103.66 retracement. On the upside, clearance of 106.98 would
be viewed as a reversal.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.