Free Trial

USD/JPY fluctuated yesterday, as.........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY fluctuated yesterday, as familiar risk developments inspired
caution. Concerns over the resurgence of Covid-19 in several locations & over
the pace of post-coronavirus economic recovery.
- Japan lifts all domestic travel restrictions today. This morning, Mainichi
reported that Japan will discuss easing travel restrictions with Taiwan. PM Abe
said yesterday that the gov't is working with Vietnam, Thailand, Australia & NZ
to re-open some limited travel.
- South Korea took its trade spat with Japan to the WTO yesterday after
bilateral talks failed to bring a breakthrough.
- USD/JPY trades flat at Y106.98, with bears looking for a drop through Jun 11
low of Y106.58, which would expose May 11 low of Y106.40. Bulls need a clearance
of Jun 16 high of Y107.64 before targeting Jun 9 peak at Y108.54.
- Japanese CPI comes out at the bottom of the hour, with BoJ Apr MonPol meeting
minutes due 20 mins later. Next week, focus turns to flash Jibun Bank PMIs
(Tuesday), the summary of opinions from the BoJ's most recent meeting
(Wednesday), & Tokyo CPI (Friday).

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.