CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

Lower Yields, Equities & Commodities All Aid Yen Outperformance

JPY

Yen was the best performer within the G10 for Wednesday's session, rising just under 1.40%. The yen benefited from Fed hints of a potential pause (with US yields lower, led by the front end), along with weaker equity sentiment. The CHF was the next best at just over +1% against the USD. Yen was volatile through the FOMC decision and as the press conference got underway, but maintained a positive bias.

  • We sit at 134.60/65 currently, just below NY closing levels. A reminder that Japan markets remain closed for the rest of the week.
  • We aren't too far away from pre-BoJ levels from last Friday around the high 133/low 134 region. We are also 2.3% down from Tuesday highs near 137.80.
  • The softer commodity price backdrop, particularly in terms of oil, also aided the yen from a cross standpoint. AUD, NZD and CAD were the weakest performers in the G10 space for Wednesday's session.
  • AUD/JPY is back below 90.00, last in the 89.80/90 region. Recent highs above 92.00 were capped by the 200-day MA.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.