Free Trial

Touched a high of Y106.21 in Asia........>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Touched a high of Y106.21 in Asia before rate slowly drifted lower,
breaking below Y106.00 into Europe before posting a low of Y105.89. Rate
currently trades around Y105.93. Traders have noted that the Y106.00 level holds
the strike of an expiring option for today's NY cut, $1.09bn, which could act to
keep rate anchored, though ECB announcement today could influence via Eur/Jpy.
Larger option expiries Friday also of note, Y104.00 holding $5.18bn, Y107.00
$4.06bn, with Y106.50 holding $1.03bn. Talk earlier in the week suggested a
barrier at Y105.00 was due to roll off toward the end of this week, though
nothing heard to confirm. Outside support noted at Y105.50, Y105.35/25.
Resistance Y106.20/30.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

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.