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USD/JPY hovers around Y114.00 at.........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY hovers around Y114.00 at writing.
- JPY was the poorest performer in G10 on Thursday, falling against all others,
with USD/JPY closing above Y114.00. Japanese equities rallied sharply, although
European & U.S. markets were more inconsistent as traders largely sat on the
sidelines ahead of the FOMC decision.
- Speculation of BoJ ETF purchases is doing the rounds, with some potential for
Goto-bi demand as well.
- The close above Y114.00 opens up the Oct 4 high at Y114.55. Bears now need a
close below Y113.00 to shift momentum back in their favour, with yesterday's
intraday low of Y113.48 providing initial support.
- BoJ will conduct 1-5 & 10-25+ Year Rinban operations today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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