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USDJPY made an attempt at 157.00
- The Dollar remains within ranges going into the European session, and still some fairly tight ranges in G10, EURUSD in 10 pips, Cable 16 pips, AUDUSD 20 pips.
- NZD is again the best early performer following more Hawkish rhetoric, but NZDUSD hasn't managed to test Yesterday's top print of 0.6152, which was also the highest level since mid March.
- Main focus in FX is right back on the Yen, with USDJPY now gaining some 330 pips in the past 6 sessions.
- USDJPY traded through 156.74 overnight, but didn't quite managed to break above 157.00, printed a 156.90 high so far.
- Next upside area of interest will be at 157.59, not a tech level, but where it was trading on the Second supposed intervention on the 1st May.
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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.