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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.
NZDJPY
The yen is the only G10 currency higher against the USD, albeit marginally at this stage. USD/JPY last tracked near 150.40, keeping us well within recent ranges.
- NZD/JPY is down sharply, following the dovish RBNZ on hold outcome. The OCR was on hold as expected, but the RBNZ tone and forecasts implied less upside risks to the rates outlook. As Governor Orr's press conference unfolds NZD is seeing further downside, NZD/USD near 0.6110.
- The pair had rallied strongly in the first 3 weeks of Feb, aided by higher NZ rates and generally bullish global equity market sentiment.
- From multi year highs (93.45) we are now back sub 92.00 and threatening a test of the 20-day EMA, see the chart below.
Fig 1: NZD/JPY Lower, Testing 20-day EMA Support
Source: MNI - Market News/Bloomberg
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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