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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.
FOREX
- US real yields initially drove the bulk of the rally in Treasuries on the FOMC minutes, before breakevens broke lower as 10Y real yields climbed back.
- That helped see DXY briefly at the day’s lows before retracing a large part of the move, although the moves are lost when looking at the bigger picture in recent weeks as DXY moves back to circa 1.5% below cycle highs seen in days after the Sep 21 FOMC.
- Similarly, USDJPY fell -0.15% on the minutes but has clawed most of this back, closing in again on 147.00 (currently 146.89) with the pair maintaining a recent bullish tone as it crossed above the previous intervention zone during APAC trade, registering a fresh multi-decade high in the process.
- Comments earlier from BOJ Governor Kuroda repeated his pledge to continue with his easing policy because the Japanese economy is still recovering from the impact of the Covid-19 pandemic, and inflation is expected to moderate over the following year.
DXY (yellow) and 10Y real yields (white)Source: Bloomberg
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.
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