Free Trial

Yen Rallies Post BoJ Related Comments

JPY

USD/JPY has slumped back below 130.00, hitting a low near 129.20, but has stabilized somewhat now, last around 129.45/30, still +0.30% above NY closing levels from Friday in yen terms.

  • Comments from Japan Research Institute Chair Yuri Okina appeared to have spurred gains, with Okina stating there needs to be a rethink of BoJ and government cooperation. Okina also stated that the price target should be the long term goal. There is speculation Okina could be on the BoJ board post the upcoming reshuffle.
  • Note last week's lows came in around 129.00 for USD/JPY, while the high for today's session is close to 130.30.

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.