MNI BRIEF: European Fiscal Board Calls For Fiscal Tightening

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI China Daily Summary: Wednesday, July 3

MNI BRIEF: NBP Holds Reference Rate At 5.75% As Expected

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

US EIA: CRUDE OIL STOCKS EX SPR -12.16M TO 448.5M JUN 28 WK

Unexpected Factory Orders Drop Further Sign Of Softening Goods Output

MNI: US MAY FACTORY ORDERS -0.5%; EX-TRANSPORT NEW ORDERS -0.7%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

U.S. Yields Continue To Underpin USD/JPY

JPY

The continued uptick in U.S. Tsy yields has supported USD/JPY during the early part of this week, leaving the rate 20 pips or so higher into London trade, printing just shy of Y111.20. The race to become leader of Japan's ruling LDP Party headlines the local docket this week, but it is the U.S. Tsy yield dynamic that will remain front and centre for the pair. This week's rally leaves bulls targeting the Jul 2 high & bull trigger (Y111.66), with the Mar 24 high located just above there (Y111.74). A clear breach of that resistance zone would open the way to the Feb 20 2020 high (Y112.23). Initial support comes in at the Sep 8 high (Y110.45). The Y110.40-50 zone presents $1.2bn of FX option expiries to be aware of at today's 10AM NY cut.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange BulletsHomepage
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange BulletsHomepage

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.