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Touches Y110.01 as UST Yields Nudge Higher.

JPY
MNI (London)
  • Touches Y110.01 but move fails to trigger any major follow through demand.
  • However, corrective pullbacks remain very shallow and with UST yields continuing to nudge higher upside pressure remains.
  • If rate can clear above the figure expected to meet next resistance at Y110.15/25, a break here to turn attention on to Y110.50.
  • Leveraged accounts said to have trimmed back recent short positions but IMM still sitting short. Japanese retail accounts had gone long in recent sessions and will likely look to take profit above Y110.00.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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