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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 17.51% as option markets price in a ¥131.48-¥136.07 range in the aftermath of today's BoJ monetary policy decision.
- Overnight implied volatility is elevated sitting at 17.51%, however we remain well below the extremes seen before the January BoJ meeting (48.71%) and the March meeting (42.87%).
- Overnight risk reversals are skewed to the downside, however we do sit above the extremes seen before the March BoJ meeting.
- There are no major changes expected in policy parameters today, the outlook/guidance will be in focus as will whether the central bank announces a review of its longer term performance and policy settings. The MNI preview is here.
Fig1: USD/JPY O/N Implied Vol
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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