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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.
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Free AccessMNI China Daily Summary: Wednesday, December 11
Rejection Of Y115.00 Leads To Sharp Pullback In USD/JPY
USD/JPY failed to take out the Y115.00 mark on Wednesday and staged a strong reversal, erasing all of the previous trading day's gains. The pair probed the water under Y114.00 as global equity indices came under pressure amid broader risk aversion.
- The Nikkei reported that the LDP is looking into expanding tax benefits for companies implementing a certain level of wage hikes, which is not a new concept.
- USD/JPY has crept higher this morning and last operates +11 pips at Y114.18. A clearance of yesterday's high of Y114.97 would expose Mar 10, 2017 high of Y115.51. Meanwhile, a fall through Nov 12 & 15 lows of Y113.76 would open up Nov 9 low of Y112.73.
- The main point of note on the local docket during the remainder of this week is national CPI, due for release tomorrow.
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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.