MNI BRIEF: PBOC Increases Gold Reserves

MNI BRIEF: Japan Q3 GDP Revised Up On Net Exports, Capex

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI China Daily Summary: Friday, December 6

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/JPY Firms But Stops Short Of Fresh Highs, Mar National CPI On Tap Today

JPY

USD/JPY got back close to 154.70 in Thursday US trade. A firmer US yield backdrop, post comments from the Fed's Williams aided the 3-6bps move up in US Cash Tsy yields. Yen lost 0.16% for Thursday's session, and USD/JPY tracks close to 154.60 in early Friday trade.

  • Late comments from the US session from FinMin Suzuki - that rate differentials are not only factor in FX levels now, along with BoJ’s Ueda - chance weak yen may affect trend inflation which could lead to a policy shift, helped nudge USD/JPY away from session highs.
  • We remain just short of 154.79, which marked recent highs, beyond that lies round figure resistance at 155.00. Yesterday's lows in the pair came in just under 154.00.
  • The next up in USD/JPY could be difficult to come by without another major shift in Fed policy pricing, as positioning looks stretched and diplomatic blockers to potential intervention appear to have peeled away in recent sessions (as per G7 related comments yesterday).
  • Locally, we have the March national CPI on tap today, with the market looks for 2.8% y/y headline, same as last month. The core ex fresh food, energy measure is projected at 3.0% y/y (from 3.2% in Feb).
  • In the option expiry space, we have the following for NY cut later: Y155.00($1.7bln).
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.