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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
Yen was the best performer in the G10 space through Thursday's session (+2%). Building on gains from the Asia session, JPY rallied to 135.20 in the NY session. USD/JPY sits a higher from these levels currently, last around 135.30. The 200-day EMA is near by at 135.02, while the simple 200-day is a little lower at 134.52.
- JPY continues to track UST yield shifts fairly closely, see the chart below. The pullback in yields was aided by generally soft US data outcomes, with the ISM falling to 49.0.
- Comments by BoJ board member Tamura have likely aided the yen as well. Tamura stated the BoJ should conduct a review of its monetary policy framework. The review could be sooner or a little later. The market may speculate such a review is a lead on a potential policy shift by the central bank.
- The data calendar only contains monetary base figures.
Fig 1: USD/JPY & UST 10yr Yield
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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