Free Trial
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.
JPY
Yen continues to lead the early rally against the USD. USD/JPY is tracking towards 148.30. We are close to the 20-day EMA, see the chart below. Breaks sub this level have proven to be somewhat of false dawn though in recent months, with the market happy to buy the dip, going back to early August.
- Tuesday lows in the pair came in at 147.43, amid speculation of FX intervention.
- Yen support is coming via broader USD losses, as all G10 FX is firmer in the first part of Thursday trade, although yen, NZD and AUD are the best performers at this stage.
- US yields have seen more downside in recent dealings, the 10yr off 1.5bps to 4.72%.
Fig 1: USD/JPY Close To 20-day EMA Support Point
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok