Free Trial

The dollar encountered early pressure....>

DOLLAR-YEN
DOLLAR-YEN: The dollar encountered early pressure overnight following a
Bloomberg article that reported the shortlist for the next Fed chair, soft UST
yields added weight as the pair slipped from Y112.85 to Y112.51. Market talk
suggested Mnuchin favours Fed moderate Powell over known hawk Warsh and seen
attributing to the move. Consolidation largely remained the theme before renewed
supply emerged into Europe, rate managed to grind out a fresh low of Y112.48 but
lacked follow through. On the downside support is seen at Y112.40/22 (Oct2 low,
Sep29-27 lows), a break opens Y112.00/97 (Hourly low Sep26, 200-dma). Dollar-yen
last Y112.55.  

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.