Free Trial

*Oct12 Dollar-yen open Y112.50, range...>

YEN SUMMARY
YEN SUMMARY: *Oct12 Dollar-yen open Y112.50, range Y112.32 to Y112.52
*Dollar-yen opened in Asia toward the upper side of yesterday's Y112.08 to
Y112.59 range witnessed yesterday, where strong demand in Euro-yen offset modest
US dollar weakness, leaving the pair largely unchanged on the day.
*Dollar-yen came under mild pressure in early trade, Asian investors had deemed
the latest Fed Minutes as more dovish than expected. Dollar-yen dropped from
Y112.52 to Y112.32. Ongoing demand in Aussie-yen from Japanese investors negated
dollar weakness.
*The pair then consolidated between Y112.33 and Y112.43 for the balance of the
session, with large option expiries for today seen containing
*Notable options expiries for today include; Y112.00($1.79bn), Y112.40{$1.12bn),
Y112.50($990mn), Y112.60($650mn) and Y113.00-05($2.68bn)
*Support is being found near to the 21-dma, currently at Y112.21, while
resistance is located at Y112.72 (50% Y113.44-Y111.99 decline).

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.