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Made a show above Y111.00 in late NY.....>
DOLLAR-YEN: Made a show above Y111.00 in late NY trade Wednesday, touched
Y111.05 but struggled to build further. Early Asia pressed rate back to Y110.87
but risk appetite was given an added boost as markets reacted to a BBG report
suggesting that the U.S. is weighing a 60-day extension to the Chinese tariff
deadline. This news, along with Tokyo fix demand, saw rate lift on to Y111.13
before momentum faded. Corrective pullback held above Y111.00. Early Europe
picked up the risk positive baton and has edged rate back up to Y111.12 but
momentum has again faded. If rate can build seen opening a push on toward
Y111.30(200-dma) ahead of stronger technical resistance between Y111.40/50.
To read the full story
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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.