Japanese Yen Drops Amid Improved Risk Sentiment
11 Maggio 2022 - 5:03AM
RTTF2
The Japanese yen slipped against its major counterparts in the
Asian session on Wednesday, as risk sentiment improved following
strong China inflation data and Beijing's pledge to roll out of a
variety of measures to help stabilize the market.
Data from the National Bureau of Statistics showed that China
consumer prices climbed 2.1 percent on year in April, exceeding
expectations for an increase of 1.8 percent and up from 1.5 percent
in March.
Producer prices spiked 8.0 percent on year, beating expectations
for a gain of 7.7 percent, but slowing from the 8.3 percent
increase a month earlier.
Investors focus on U.S. inflation report to help determine how
fast the Federal Reserve plans to deliver interest rate hikes.
The US CPI is expected to ease to 8.1 percent from 8.5 percent
in March.
The core CPI that excludes food and energy prices is expected to
come in at 6 percent, down from March's reading of 6.5 percent.
The yen dropped to 130.49 against the greenback and 160.88
against the pound, from its early highs of 130.23 and 160.37,
respectively. The next possible support for the yen is seen around
132.00 against the greenback and 162.00 against the pound.
The yen reversed from its previous highs of 137.19 against the
euro and 130.81 against the franc, edging down to 137.49 and
131.13, respectively. The yen is seen finding support around 139.00
against the euro and 133.00 against the franc.
The yen weakened to 90.78 against the aussie and 82.31 against
the kiwi, down from its prior highs of 90.32 and 81.88,
respectively. The yen is poised to challenge support around 93.00
against the aussie and 85.00 against the kiwi.
The yen ticked down to 100.31 against the loonie, after rising
to 99.97 at 8:30 pm ET. Immediate support for the yen is seen
around the 102.00 level.
Looking ahead, U.S. inflation data and monthly budget statement
for April are scheduled for release in the New York session.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Ago 2024 a Set 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Set 2023 a Set 2024