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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.
JPY
Under pressure after the high US CPI figure, the Yen suddenly soared 0.8% in about a minute vs USD after going one pip weaker than 1998's weakest point (147.66) to the weakest level since 1990 (147.67).
- There is a lot of speculation over potential official intervention driving this move, but we caution that it is very much unsubstantiated. And the move has largely unwound, so if there was intervention, it was ineffective.
- Recall, Japanese authorities intervened on Sep 22 to shore up the yen for the first time in 25 years.
Source: BBG, MNI
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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