Free Trial

Looking For Fresh Impetus

DOLLAR-YEN

USD/JPY has fluctuated around unchanged levels, as participants have assessed Covid-19 treatment matters & geopolitical risk, outlined earlier. The rate last sits at Y105.84, a handful of pips higher on the day.

  • Yomiuri reported that PM Abe is planning to go to the hospital today to hear the results of his medical checkup. Abe today set a new record for the longest tenure in office.
  • Per Jiji, Japan may extend tax cut on fuel-efficient car purchases.
  • Elsewhere, the deadline for giving a notice to terminate the Japanese-South Korean intelligence sharing pact expires today. Seoul's earlier notice is currently suspended.
  • A break above Aug 20 high of Y106.22 would bring Aug 17 high of Y106.68 into play. Meanwhile, a fall through Aug 19 low of Y105.10 would open up the 76.4% retracement of the Jul 31 - Aug 13 rally at Y104.86.
  • Japanese highlights this week include final machine tool orders (Thursday) & Tokyo CPI (Friday).

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.