MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Yen Lags G10 Peers

JPY

USD/JPY crept higher Tuesday amid twist flattening in U.S. Tsy yield curve, with safer currencies (JPY, CHF) struggling to find poise.

  • The gap between yields on 10-year U.S. Tsys and JGBs widened ~3bp, while 2-year spread rose ~8bp.
  • A generally positive showing from equity markets post-Asia reduced demand for safe havens. The VIX index ground lower.
  • USD/JPY risk reversals advanced, with one-year skews printing best levels since mid-May as they consolidated above par.
  • Spot USD/JPY last sits at Y134.29, up 7 pips on the day. Should we get above Aug 8 high of Y135.58, bulls could take aim at Y135.96, the 61.8% retracement of the Jul 14 - Aug 2 sell-off. Bears look for a dip under Aug 11 low of Y131.74.
  • Japan's trade deficit is expected to have shrunk to Y1.3625tn in Jul from Y1.3985tn prior, according to a Bloomberg survey of analysts. Core machine orders will also cross the wires today.
  • Looking further afield, Japan's national CPI figures will be published this Friday.
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.