Trial now

Extending small gains


Put spread trades again

MNI (London)
DOLLAR-YEN: Tokyo return Monday had early market anticipating that they would
sell USD/JPY and eased rate down to an extended low of Y107.77 before they
encountered domestic demand. Buying was suggested to be linked to fix interest
as rate bounced back to Y108.12. Rate dipped back to Y107.93 but encountered
demand again which kept it buoyed back above the figure into Europe. Fresh
demand has lifted rate on to Y108.18. Asian traders have suggested resistance
seen from Y108.25 stretching on to Y108.45. Traders also note that $1.17bln of
option interest rolls off at today's NY cut, $742mln of USD puts. USD/JPY
remains a key barometer of risk with direction driven on developments with the
US-Iran situation.  
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |