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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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USD/JPY shed 34 pips overnight and.......>
DOLLAR-YEN: USD/JPY shed 34 pips overnight and last sits at Y106.12. Speculation
re: today's PBoC fix and its ultimate level triggered some risk-off flows,
sustained thanks to a slide in the Nikkei 225. USD/JPY posted losses as a
result, while a dovish surprise in the RBNZ MonPol decision and the subsequent
presser further cemented the yen's outperformance in the G10 FX space.
- The summary of opinions from the latest BoJ MonPol meeting didn't provide any
notable surprises, with most members cautious re: the prospect of further
easing, even as a couple of dovish voices sounded more aggressive than the
status quo.
- USD/JPY had a look below Y106.00 earlier in the session, before moving away
from lows. A return below the lower Bollinger band (2%) and the aforementioned
round figure would be a good prognostic for the bears, opening up yesterday's
cycle low of Y105.52. Bulls look to the 76.4% retracement of the YtD range at
Y106.65, while a rally above would expose the 100-HMA at Y106.75.
- The remaining data releases in Japan include BoP data & Eco Watchers Survey
(tomorrow) and flash GDP (Friday).
To read the full story
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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.