Free Trial

Usd/Jpy: Asia open Y110.17, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y110.17, range Y109.98-110.29. Europe open
Y110.13, range Y109.91-110.16.
* Recovery off pre weekend low of Y107.32 extended through Mon/Tue to Y110.25
toward yesterday's close. 
* A paring back of pre weekend risk-off positions cited for the move, along with
an upside correction in UST yields. 
* Early Asia extended move to Y110.29 but move proved short lived as general Usd
sales emerged to press rate back to Y109.98.
* Rate recovered into early Europe to Y110.16, eventually broke back under
Y110.00 to Y109.91. 
* Reversal in Gbp/Jpy, which had seen an extended high of Y146.67, boosted Jpy's
correction. 
* Traders note Usd/Jpy's recovery but have suggested that Usd/Jpy not looking
too comfortable above Y110.00.
* Technically though rate looks supported by the Y109.50 area and could have
room to extend current move to Y110.50.
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.