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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.
JPY
USD/JPY overnight implied volatility sits at 15.685% as option markets price in a ¥138.74-141.55 range in the aftermath of todays BOJ decision.
- Whilst overnight implied volatility is elevated we have ticked lower from yesterdays post-FOMC highs of 4.58% and remain well within the yearly range.
- Overnight risk reversals are skewed to the downside however we sit within recent ranges and have ticked away from post-FOMC lows.
- Fairly low expectations of material changes at today's BoJ meeting is another headwind for the yen, which remains an outlier in terms of global monetary policy setting. See our preview here for more details.
Fig 1: USD/JPY Overnight Implied Volatility
Source: MNI/Bloomberg
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.
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