MNI BRIEF: Policy Move Eyed If Inflation Meets 2% - BOJ's Ueda

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1059 TUES VS 7.1043

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Yen Hovers Above Multi-Year Lows

JPY

Monday was a bullish inside day for USD/JPY, as the rate oscillated within a familiar range, in close proximity to recent multi-year highs. The rate struggled for a clear direction.

  • USD/JPY 1-month implied volatility registered its highest levels since Mar 15 on Monday, but has eased a tad since and last sits at 6.59%.
  • Formal campaigning for the Oct 31 general election begins today. 465 seats up for grabs, with 289 lawmakers elected in single-seat districts and 176 by a party-list system of proportional representation. The ruling LDP-Komeito coalition held 305 seats before the dissolution of the House of Representatives.
  • On the data front, trade balance (Wednesday) as well as national CPI & flash Jibun Bank PMIs (Friday) take focus from here.
  • USD/JPY last trades at Y114.30, little changed on the day. A break above the upper 2.0% 10-DMA envelope at Y115.46 provides the initial layer of resistance. On the flip side, losses past Oct 12 low of Y113.00 would open up Sep 30 high of Y112.08, a recent breakout level.
HomepageBank of Japan (BOJ) Market NewsBulletMarketsForeign 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.