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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.
USD
- JPY the early laggard, extending yesterday's post-Powell underperformance against the USD, with the USD Index hitting a new weekly high and the best level since early December overnight.
- Notably, the Tuesday close was the first break and close above the 100-dma since June 2021 - a move that was followed by the broad Fed-tightening inspired 12 month rally in the greenback.
- Paring a small part of yesterday's losses, AUD is firmer early Wednesday, although AUD/JPY remains below the 50% retracement for yesterday's range, crossing at 90.9842 today.
Figure 1: USD Index Breaks and Closes Above 100-dma For First Time Since Jun'21
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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