© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BIDEN SAYS PEOPLE'S SAVINGS ARE SECURE

MNI BRIEF: US Bank Deposits Fell USD98B Week Of SVB Collapse

MNI BRIEF: Data Not Justifying ECB Hike Beyond Expectations

MNI DATA FORECASTS: EZ Inflation data in focus

BNB Business Sentiment Boosted by Strong Services Demand

MNI: BELGIUM MAR BNB BUSINESS SURVEY -7.6

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

USD/JPY Rebound, But Remains Within Recent Ranges, Tokyo CPI Out Today

JPY
BulletMarketsForeign Exchange NewsHomepage

After SEK, JPY was the weakest performer in the G10 space through Thursday, losing around 0.50%. The pair spent most of the post-Asia close recovering from earlier lows near 129.00. We got above 130.60, before settling back into 130.20/25 by the NY close. The USD bounce post the GDP beat was short-lived, as details disappointed, but US yields still finished higher across the curve, the 10yr back above 3.50%.

  • This, coupled with higher yields elsewhere, and a firmer risk-on tone in the equity space, weighed on yen performance.
  • Highs from 18 Jan, just above 131.60 remain intact, whilst yesterday's lows came in close to 129.00. Overall, we remain within recent ranges.
  • On the data front today is Tokyo CPI for Jan. The market expects headline y/y at 4.0%, versus a revised 3.9% prior. Ex-fresh food is forecast at 4.2% y/y (from 3.9%), while ex food & energy is expected at 2.9% y/y (2.7% prior).
154 words

To read the full story

Why Subscribe to

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.

After SEK, JPY was the weakest performer in the G10 space through Thursday, losing around 0.50%. The pair spent most of the post-Asia close recovering from earlier lows near 129.00. We got above 130.60, before settling back into 130.20/25 by the NY close. The USD bounce post the GDP beat was short-lived, as details disappointed, but US yields still finished higher across the curve, the 10yr back above 3.50%.

  • This, coupled with higher yields elsewhere, and a firmer risk-on tone in the equity space, weighed on yen performance.
  • Highs from 18 Jan, just above 131.60 remain intact, whilst yesterday's lows came in close to 129.00. Overall, we remain within recent ranges.
  • On the data front today is Tokyo CPI for Jan. The market expects headline y/y at 4.0%, versus a revised 3.9% prior. Ex-fresh food is forecast at 4.2% y/y (from 3.9%), while ex food & energy is expected at 2.9% y/y (2.7% prior).