Free Trial

YEN SUMMARY: Dollar/Yen: Europe.........>

YEN SUMMARY
YEN SUMMARY: YEN SUMMARY: Dollar/Yen: Europe open:Y112.12 , range: Y112.10-48 ,
NY open: Y112.34 range: Y111.74-Y112.64
* Demand via the crosses with added support from firmer UST yields continued to
provide the appetite in early Europe. Having reclaimed the Y112.00 handle,
Usd/Jpy touched recovery highs of Y112.48.
* Marginally stronger set of US data saw Usd/Jpy extend the slow grind to
Y112.40, before fading.
* The US dollar took another leg lower with supply possibly linked to month-end
flow. Rate moved through the European morning low to below Y112.00.
* The pair finally settled at intra-day lows of Y111.74 before US Tsys
strengthened and the dollar gained.
* A risk-on mood kicked in amid speculation that the US Senate will pass a GOP
tax bill, which helped the dollar surge higher paring back all of the losses
made earlier during the day. Usd/Jpy went on to make intra-day highs of Y112.64.
* Eur/Jpy was firm today as the pair printed intra-day highs of Y134.14.  

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.