Trial now
LIBOR

CHF LIBOR - 08/12/2021

LIBOR

JPY LIBOR - 08/12/2021

LIBOR

USD LIBOR - 08/12/2021

LIBOR

EUR LIBOR - 08/12/2021

LIBOR

GBP LIBOR - 08/12/2021

JPY

USD/JPY went offered Thursday as participants dumped the greenback. The sell-off was limited only by the Y109.00 mark (located just one pip above the 23.6% retracement of the YtD rally), even as the 100-DMA crossed above the 200-DMA, sending a bullish signal. Fedpeak and vaccine matters provided the main talking points.

  • Japanese Econ Min Nishimura said that the gov't want to implement stricter Covid-19 measures in Tokyo, Kyoto and Okinawa from Apr 12 to May 11.
  • Nishimura's comments came after Tokyo Gov Koike said she will ask the central gov't to tighten restrictions in the capital and urged residents to avoid leaving the city.
  • USD/JPY sits at Y109.35, 9 pips better off. The key near-term support has been defined at aforementioned Y109.00/108.99 area. A break here would shift focus to Y108.41, which limited losses on Mar 23. Bulls look for a jump above Apr 7 high of Y109.94, followed by Apr 6 high of Y110.55.
  • Japanese data highlights next week include PPI & flash machine tool orders (Monday) as well as core machine orders (Wednesday).
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com