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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: PBOC Net Drains CNY227 Bln via OMO Wednesday
MNI BRIEF: Aussie Q3 GDP Prints At 0.3% Q/Q
The yen has started the week on the......>
DOLLAR-YEN: The yen has started the week on the back foot, as risk sentiment
received a boost from the U.S.-Mexico agreement. The deal suspends the tariffs
on all Mexican goods, which were to take effect on Monday. USD/JPY last deals at
Y108.47, 28 pips higher on the day, with JPY lagging all of its G10 peers.
- This occurs after USD/JPY dropped 21 pips Friday, after disappointing U.S. NFP
data delivered a blow to the greenback. USD/JPY declined as a result, even as
outperforming global equities applied weight to the yen.
- On the technical front, bulls look for a break above the 200-HMA at Y108.62
before challenging the cloud Tenkan Sen, which comes in at Y108.88. Conversely,
bears need a fall through the 100-HMA at Y108.23 before turning focus to the Jun
6 low at Y108.03 and the Y108.00 mark.
- Japanese Trade Min Motegi will meet with U.S. TR Lighthizer for trade talks in
Washington on Thursday.
- Data highlights in Japan this week include GDP (f), BoP c/a data (p) & Eco
Watchers Survey due later today, core machine orders & PPI due Wednesday, as
well as industrial output (f) due Friday.
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.