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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.
PERU
- Last week, Peru's central bank decided to raise it policy rate by 50bps to 1.50% to curb inflationary pressures, its third increase in two months.
- As a result, PEN has been consolidating sharply against major crosses following 6 months of depreciation.
- PENJPY has been retracing higher in the past week, breaking above key resistances (LT downward trending resistance level, 200DMA), and is currently trading at is highest level since the beginning of July slightly above 28.54 (50% retracement of the 26.52 – 30.56).
- Next level to watch on the topside stands at 29.02 (61.8% Fibo); on the downside, first support to watch stands at 28.30 (200DMA).
Source: Bloomberg/MNI
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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