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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 tipped to multi-month low - The USD...>
FOREX: USD/JPY tipped to multi-month low
- The USD index looks to finish the week at the lowest levels since 2018 having
recorded six consecutive sessions in the red. The continued decline of US real
yields has weighed further on the greenback, proving supportive of precious
metals - with spot gold coming within about $15 of the alltime high printed in
2011.
- Markets traded risk-off for the bulk of the session, with US markets shedding
just under 1% apiece. This helped drive haven currencies higher, with USD/JPY
breaking through support layered at the Y106 handle. Growth and commodity
proxies took a knock, with AUD, CAD and NZD among the poorest performers Friday.
- The latest round of GDP numbers from Germany, France, Italy, Canada and the US
cross next week, as well as Australian inflation and MNI Chicago Business
Barometer. The coming week is the busiest of the quarter for US earnings, with
nearly 200 S&P500 firms due to report, most notably Apple, Amazon and Alphabet.
The Fed rate decision is also due, with focus turning to any potential revision
to the bank's forward guidance.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.