Free Trial

Release of stronger than expected........>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Release of stronger than expected China PMI data over the weekend
allowed the Asian session to open with decent risk appetite with JPY coming
under pressure. This pressure took USD/JPY to a high in Asia of Y111.18 before
it met stiff resistance into Y111.20. Rate drifted off to Y111.00 into Europe,
eventually breaking below the figure ahead of NY. Rate extended the pullback to
Y110.82 before it bounced, moving to a post 1600BST fix high of Y111.44. Asian
traders earlier noted resistance in place from the earlier mentioned Y111.20,
through to Y111.50, noting as well the 200-dma at Y111.47. A break of Y111.50 to
expose the Mar20 high of Y111.69 ahead of Y111.90(Mar15 high). Support Y110.80. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.