Free Trial

Risk drove USD/JPY during Wednesday's....>

DOLLAR-YEN
DOLLAR-YEN: Risk drove USD/JPY during Wednesday's U.S. session, with U.S. stocks
rallying hard (the Dow added over 1,000 points for the first time in history)
after a tumultuous Christmas Eve for the space, allowing the pair to add over
100 pips on the day. BoJ Gov. Kuroda offered little new in address earlier
Wednesday.
- Rate last deals at ~Y111.22, 15 or so pips softer on the day. Bulls look for a
close above the December 21 high at Y111.46, which would then open up the NY
hourly highs from December 20 at Y111.73/83. Bears need a break back below the
200 DMA to open up the Dec 20 low at Y110.81.
- Focus today falls on the broader risk backdrop when Tokyo re-opens, with on
eye on the BoJ's Rinban operations.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@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.