Free Trial

Market shy further from risk, boosting JPY....>

FOREX
FOREX: Market shy further from risk, boosting JPY
-JPY extends its winning streak, sitting higher against all other G10 FX for the
second consecutive session. The USD also trades modestly higher alongside
broader the broader risk-off theme that's carried through from yesterday's
relatively quiet session. New developments in Italy have been few and far
between, allowing Italian assets to stabilise somewhat, although the yield curve
continues to inch higher.
-NOK shrugged off lower than expected GDP growth as Norges Bank's Olsen
re-asserted that the central bank are ready to normalise monetary policy.
EUR/NOK trades comfortably below Nok9.50 in response.
-GBP is the poorest performer in G10, stymying the recent GBP/USD recovery and
pressing the pair well back below $1.31. Markets continue to trim their hopes of
an easy resolution between Westminster and Brussels.
-The data calendar is typically quiet for this time of the month, with focus
remaining on the speaker calendar. Fed's Kaplan and Harker, BoE's Broadbent and
ECB's Villeroy are all due to speak.

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.