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Yen Firms In Early Trade

FOREX

The Yen is ticking higher in early dealing on Friday, the ¥144 handle has been breached and a low of ¥143.28 was printed before gains were pared. There was no obvious headline driver as perhaps pre-NFP position squaring in poor liquidity the main driver.

  • USD/JPY is down ~0.4% last printing at ¥143.45/55. We remain comfortably above yesterday's lows of ¥141.71.
  • Kiwi is a touch pressured, trimming some of yesterday's gain however ranges remain narrow. This morning Q3 Manufacturing Activity crossed, falling 2.8% Q/Q. The prior read was revised lower from 0.2% Q/Q to -0.8% Q/Q. Q3 Filled Job was also on the wires and rose 0.3% Q/Q.
  • AUD/USD is dealing in a narrow range, see-sawing around the $0.66 handle with little follow through on moves.
  • Elsewhere in G-10 there are no moves of note to report.
  • The cross asset space is muted, Oil has trimmed some of its recent losses but WTI remains well within recent ranges.
  • The docket is thin for the remainder of the Asia-Pac session today.
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