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MNI EUROPEAN MARKETS ANALYSIS: JPY Regains Some Poise

  • Renewed talk of potential FX intervention rendered JPY the best G10 performed for the second consecutive day, allowing USD/JPY to move further away from its recently recorded 24-year highs.
  • The long end of the JGB curve outperformed after the latest round of 20-YEar supply avoided the worst case scenario, allowing the curve to bear flatten.
  • Today's data highlights include a suite of PMI readings from across the world as well as U.S. jobless claims. Fed Chair Powell will testify on the Hill, while ECB's Nagel & Villeroy are set to deliver speeches. Elsewhere, Norges Bank will announce its rate decision.


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  • Renewed talk of potential FX intervention rendered JPY the best G10 performed for the second consecutive day, allowing USD/JPY to move further away from its recently recorded 24-year highs.
  • The long end of the JGB curve outperformed after the latest round of 20-YEar supply avoided the worst case scenario, allowing the curve to bear flatten.
  • Today's data highlights include a suite of PMI readings from across the world as well as U.S. jobless claims. Fed Chair Powell will testify on the Hill, while ECB's Nagel & Villeroy are set to deliver speeches. Elsewhere, Norges Bank will announce its rate decision.


Keep reading...Show less