Free Trial

Swings in wider risk appetite moved......>

DOLLAR-YEN
DOLLAR-YEN: Swings in wider risk appetite moved USD/JPY yesterday, with the
initial fall retraced later in the day amid a rebound in U.S. equity benchmarks,
led by bank shares. The rate finished 22 pips better off.
- USD/JPY holds steady at Y107.25. A break above May 11 high of Y107.77 would
bring Apr 16 & 17 highs of Y108.08 (key near-term resistance) into focus. Bears
look for a dip under May 11 low of Y106.40, towards May 6 & 7 lows of Y105.99.
- For those who missed it, PM Shinzo Abe said yesterday that the gov't will lift
a state of emergency in 39 prefectures ahead of schedule, while keeping it in
Tokyo and Osaka. He added that the gov't is working on a second extra budget,
which will include rent support and a boost to the furlough scheme.
- Japanese PPI hits the wires later today. Coming up next week we have flash GDP
(Monday), final industrial output (Tuesday), core machine orders (Wednesday),
trade balance & Jibun Bank M'fing PMI (Thursday), as well as CPI (Friday).

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.