MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Round Trip From New Cycle High

JPY

Broader demand for the greenback drove USD/JPY to a new 20-year high of Y131.35 on Monday, before a pullback in U.S. Tsy yields translated into selling pressure in London hours. The rate gave up all of its earlier gains and finished slightly below neutral levels. The yen eventually took the lead in G10 FX space amid continued risk aversion stemming from concerns about the costs of China's Covid-Zero policy and a suite of geopolitical risks.

  • USD/JPY has turned bid this morning and last deals at Y130.51, up 22 pips on the day. Topside focus falls on yesterday's peak and a break here would expose the 1.00 proj of the Feb 24 - Mar 28 - 31 price swing at Y131.96. Bears look for a retreat past Y128.63, which limited losses on May 4.
  • Household spending headlines the local data docket today, with BoP current account balance, Eco Watchers Survey & the summary of opinions from the BoJ's most recent monetary policy meeting all due Thursday.
HomepageBank of Japan (BOJ) Market NewsBulletMarketsForeign Exchange Bullets

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.