Free Trial

Saw an initial react high of Y106.64.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Saw an initial react high of Y106.64 following the FOMC 25bp hike in
US rates, but fell quickly away to Y105.88 as attention switched to the dot
plot. Rate recovered to Y106.05 into the close with early Asia extending the
move to Y106.09. Reported macro sales countered the early move and pressed rate
back to Y105.89. Downside pressure persisted through the Tokyo Fix, reported
exporter sales added weight to extend lows on to Y105.58. Japanese name buyers
then emerged which allowed rate to recover to Y105.96 ahead of Europe but
headwind selling ahead of Y106.00 eased rate back to Y105.85. Bids now suggested
from around Y105.65, strengthening toward Y105.50. A break below here to expose
stronger support area between Y105.35/25. Resistance remains between Y106.00/10.
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.