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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
The yen extended its rout Thursday.......>
DOLLAR-YEN: The yen extended its rout Thursday even as broader risk appetite was
sapped by coronavirus worry. A BBG report re: potential acquisition of Speedway
gas stations by Japan's Seven & I for $22bn kept USD/JPY afloat in the Tokyo
session, before bullish momentum kicked in taking the pair through the Y112.00
mark. A sharp leg lower in U.S. equities inspired a modest downtick just after
the WMR fix, but only briefly. The yen's recent plight has been attributed to a
growing fear that Japan may be edging towards recession.
- There will be an opportunity to assess another piece of data shortly, when
Japan's CPI hits. Flash Jibun Bank PMIs are due later in the session.
- Next week, the focus turns to Japan's industrial output, unemployment, retail
sales & Tokyo CPI, all due on Friday.
- USD/JPY holds above Y112.00, last trades -5 pips at Y112.05. The initial
resistance sits at Y112.40, the high of Apr 24. A break above would open the
upper 2.0% 10-DMA envelope at Y112.66. Bears need a drop below the Y111.00 mark
to regain some poise.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.