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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.
JPY
USD/JPY has broken through Dec 7 lows, to set fresh lows back to end July levels from this year. The pair was last in the low 141.15/20 region, a little over 1.2% stronger in yen terms for the session. We touched 104.97 a short while ago.
- Yen gains have now outpaced AUD & NZD up more in Thursday trade to date to be the best performer in the G10 space.
- USD/JPY is moving lower as US-JP 10yr yield differentials continue to correct lwoer, now back to +330bps, see the chart below.
- In terms of technical levels on the downside, 140.71 is 76.4% of the Jul 14 - Nov 13 bull run.
Fig 1: USD/JPY Versus US-JP 10yr Government Bond Yield Differentials
Source: MNI - Market News/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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