CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDJPY Breaches 155.00, Registers Fresh 34 Year High

JPY
  • USDJPY sprung to life approaching the US data, breaching the 155.00 handle for the first time since 1990. Stops may have been triggered through this mark, prompting a fresh cycle high of 155.17.
  • Despite the level breach, and trend conditions remaining firmly bullish, the pair had an immediate & sharp 35 pip turnaround to print 154.81 before the durable goods data release. This emphasises the ongoing caution for traders, as intervention risks inevitably mount.
  • Indeed, overnight one of the country’s former top currency officials said Japan is on the brink of currency intervention if the yen weakens any further, adding to headlines on Tuesday from a Nikkei article that the Bank of Japan are to discuss the impact of the yen's rapid slide at this week's policy meeting.
  • As a reminder, our full preview of this week’s BOJ meeting is here.
  • As noted for USDJPY, 155.29, a Fibonacci projection level, has capped the topside. On the downside, support lies much lower at 153.13, the 20-day EMA.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.