Free Trial

Usd/Jpy: Asia open Y113.40, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y113.40, range Y113.20-45. Europe open Y113.40,
range Y113.37-64.
* Usd/Jpy edged to Y113.47 in NY Wednesday, closed the day around Y113.40. 
* Rate eased to Y113.20 in early Asia then settled above Y113.30 as market
awaited announcement fro the BOJ. 
* BOJ no change saw Jpy lose ground, the break of Y113.50 saw quant demand
interest emerge.
* Rate rallied to a high of Y113.64 in early Europe before it settled back
around Y113.50.
* Asian traders noted that the Y113.50 holds the strike of an expiring option
for Friday's NY cut, $2.14bn.
* Large expiries for Friday's cut also noted at Y113.00 and
Y114.00($1.96bn/$1.4bn respectively).
* Traders have mentioned that rate seen in a Y111/114 range, adding that a break
of Y114.10 `could get ugly` 
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.