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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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Free AccessUSD/JPY Gets Close To Friday Session Highs Before Sellin Interest Emerges
USD/JPY has rebounded from earlier lows, last tracking in the 134.35/40 region, slightly off session highs of 134.47. This was close to NY session highs from Friday near 134.50 (after the US PMI beats). Earlier lows were at 133.89, so a good +50pip recovery in the pair.
- The cross-asset backdrop has been yen supportive at the margins, but this appears to have been dominated by the firmer USD backdrop. The BBDXY is +0.1%, last near 1226.35.
- US yields are lower, as are US equity futures, while the regional equity backdrop is negative in parts.
- We have seen a number of headlines from new BoJ Governor Ueda, as he spoke in parliament. None have shifted sentiment meaningfully, with the governor noting the 6 month, 1yr, 1.5yr inflation outlooks must be close to 2% for the BoJ to consider tweaking YCC.
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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.