NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

France Industrial Production Continues to Stagnate

MNI: FRANCE MAR INDUSTRIAL PRODUCTION -0.3% M/M, +0.7% Y/Y

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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 Lags Broader USD Sell-Off, As Risk-On Dominates Post Powell

JPY

USD/JPY currently sits close to 138.10. During the NY session we got to a low around 137.65, which was still above Monday session lows around 137.50. Overnight highs in the pair were close to the 140.00 level. The yen was 0.40% firmer for Wednesday's session, a laggard against the rest of the G10.

  • USD/JPY continued to follow the gyrations in UST yields closely, with the pull back after Powell's speech driving the pair sub 138.00.
  • The strong tone in the equity space saw cross demand emerge, with yen underperforming the commodity bloc by over 1% for Wednesday's session.
  • Today's data calendar includes capital spending and company profits for Q3. Weekly Japan investment flow data also prints, along with the final reading for the November manufacturing PMI. Later on, vehicle sales and consumer confidence are out.
  • BoJ's Noguchi speaks as well. The Japan Finance Ministry stated late yesterday that it didn't intervene in FX markets through November.
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.