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GERMANY

Barclays on German politics

OPTIONS

Expiries for Jul30 NY cut 1000ET (Source DTCC)

OUTLOOK

ECI, PCE, Chicago PMI, Fed-Speak Resumes

UK T-BILL AUCTION RESULTS

DMO sells GBP3bln 1/3/6-month UKTBs

Suga Support?

DOLLAR-YEN

Rate pushes through Y106.00 again, sitting 10 pips or so higher on the day at typing. Initial technical support and resistance remain well defined.

  • This morning's Japanese corporate profit and capex data were on the softer side, while the latest monthly labour market report provided no notable deviations from consensus.
  • Chief Cabinet Secretary Suga (the definition of a policy continuation candidate) has seemingly assumed the role of favourite to succeed outgoing Japanese PM Abe, which may be providing an underlying bid for the cross. Monday's Wall St. rally also underpinned the rate in early trading this week, with a brief, limited pullback seen on the back of USD negative month-end end flows.
  • The local political dynamic and broader market flows will be eyed in Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com