Yen Commentary for 3-Jul-09

Japanese Yen Commentary
Tables & Charts

The yen depreciated marginally vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥96.10 level and was supported around the ¥95.70 level. Liquidity was reduced with most U.S. desks closed for the Independence Day weekend celebration. The Ministry of Finance named Tomoyuki Furusawa as the new head of its currency division but most MoF-watchers do not believe this will lead to a major change in currency policy. The yen has recently traded in an inverse manner to the performance of global equities markets. Declining risk appetite has oftentimes resulted in an appreciation in the yen. Bank of Japan will convene its quarterly meeting of branch managers on Monday and many Japanese data will be released during the week. Traders await further indications that Japan’s economy may be improving including better industrial production and factory output data, along with a turnaround in the weak labour market. The Nikkei 225 stock index lost 0.61% to close at ¥9,816.07. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥134.80 level and was supported around the ¥133.55 level. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥156.40 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥87.90 level. In Chinese news, the U.S. dollar moved higher vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8315 in the over-the-counter market, up from CNY 6.8304.

SUPPORT   RESISTANCE

 
L1.       94.25    98.85 
L2.       91.90   101.65
L3.       90.05   105.05
Yen Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

3-Jul-09
AUD/JPY This marker indicates the current chart. 76.5410 0.0403 0.05% 22-Jul-08 104.1150 27-Oct-08 56.5039
CAD/JPY This marker indicates the current chart. 82.7595 -0.0265 -0.03% 23-Jul-08 106.5783 22-Jan-09 70.6772
CHF/JPY This marker indicates the current chart. 88.1364 -0.2983 -0.34% 21-Jul-08 104.6317 11-Dec-08 75.4277
EUR/JPY This marker indicates the current chart. 134.2165 -0.1051 -0.08% 18-Jul-08 169.5265 22-Jan-09 114.9064
EUR/JPY Fwd-1 Yr This marker indicates the current chart. 102.0000 0.0000 0.00% 8-Jun-09 166.0000 21-Jul-08 -691.8000
GBP/JPY This marker indicates the current chart. 156.6700 -0.5700 -0.36% 23-Jul-08 215.2200 23-Jan-09 121.5300
USD/JPY This marker indicates the current chart. 95.8800 -0.1300 -0.14% 15-Aug-08 110.5100 17-Dec-08 87.6700
USD/JPY Fwd-1 Yr This marker indicates the current chart. -71.5000 0.0000 0.00% 11-Jan-09 -51.7000 29-Sep-08 -348.0000
 
Interest Rates

3-Jul-09
USD 1W LIBOR This marker indicates the current chart. 0.2840% 0.0000% 0.00% 9-Oct-08 4.7620% 14-Jan-09 0.2320%
USD 6M LIBOR This marker indicates the current chart. 1.0790% 0.0000% 0.00% 10-Oct-08 4.3940% 2-Jul-09 1.0790%
 
Indices

3-Jul-09
Hang Seng This marker indicates the current chart. 18,203.40 25.35 0.14% 23-Jul-08 23,134.55 27-Oct-08 11,015.84
NASDAQ This marker indicates the current chart. 1,796.52 -49.20 -2.74% 14-Aug-08 2,453.67 9-Mar-09 1,268.64
Nikkei 225 This marker indicates the current chart. 9,816.07 -60.08 -0.61% 24-Jul-08 13,603.31 10-Mar-09 7,054.98
 

source: DTN Market Access

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