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Threat of tariffs on Mexican imports.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Threat of tariffs on Mexican imports into the US, announced in early
Asia, prompted a further denting to risk and acted to press USD/JPY through
support at Y109.00 in early Europe, eventually easing to a low in post 1600BST
trade to challenge support at Y108.50. Rate currently holds heavy at writing. A
break of Y108.50 to expose next technical support at Y108.38/37(61.8%
104.56-114.55/Jan16 low respectively). Expect reports of stronger support
emerging into Y108.00. Resistance Y108.90-109.00. Will be interesting to see how
Tokyo markets take this move lower in opening trade Monday. Moves very much in
the control of comments that cause a reaction in risk outlook.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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