Free Trial

USD/JPY last deals at Y108.10,...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y108.10, virtually unchanged on the day. All
eyes are on the BoJ, which is set to deliver its MonPol decision later today.
- There is no scheduled time for the policy decision announcement, but it
usually takes place somewhere around 02:30-03:30 BST (around midday in Tokyo).
Subsequent press conference with BoJ Gov Kuroda is expected at 07:30 BST.
- This comes after USD/JPY fell 35 pips Wednesday. Some JPY demand emerged into
Europe as BBG reported that the U.S. weighs imposing fresh sanctions on Turkey
over its purchase of Russia's missile-defence system. The rate edged back to
neutral levels thereafter, before sinking towards Y107.90 as the U.S. FOMC put a
rate cut on the table (albeit it sounded less dovish than many exp.).
- A senior BoJ off'l warned warned that financial institutions' loans to real
estate biz. continued to post strong growth beyond that seen in overall lending.
- USD/JPY dived through its up trendline from Jan 3, which has provided
resistance at Y108.12 today. Above here would return focus to the cloud Tenkan
Sen at Y108.34. Bears look for extending losses through the cycle low of Y107.82
before challenging Y107.59, which represents the lower Bollinger band (2%)

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.