MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1289 FRI VS 7.1305

MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

INDON/PHILIP Long-end Spreads Widen, Inflation Falls

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

Factory Orders Decline as Non-EU Orders Dip

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Yen Firms Into The Tokyo Fix

JPY

Yen has remained firmly on the front foot in the first part of Tuesday Asia Pac trade and as we approach the Tokyo fix. The pair last near session lows (148.08), tracking near 148.15. This puts us +0.35% firmer in yen terms versus Monday NY closing levels.

  • There doesn't appear to be a major fundamental catalyst for the move lower in the pair, other than a continuation of Monday's trend move down. Cross asset wise US yields are relatively steady to slightly higher in early trade, while US equity futures are close to flat.
  • US-JP 10yr yield differentials sit sub recent levels, last +364bps, we were around +369bps through the tail end of last week.
  • Note in the option expiry space we have the following NY cuts for Tuesday (per DTCC): Y147.95-90($790mln), Y148.50($1.1bln), Y148.95-00($1.5bln), Y149.85-05($1.4bln).
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.