MUFG
Institutional, MUFG
Japanese Yen: Domestic flows hint at medium-term support – MUFG
Derek Halpenny at MUFG highlights that USD/JPY has moved back toward 160 after US CPI, keeping intervention risks elevated. At the same time, JGBs have sold off but sentiment is improving, with stronger household demand and potential tax incentives. Household JGB demand supports Yen outlook “The yen weakened sharply yesterday in response to the US […]
by Currency Hedger
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- 15 hours ago
Institutional, Market Analysis, MUFG
US Dollar: Energy slide supports softer Dollar – MUFG
MUFG’s Lee Hardman notes the US Dollar has weakened, with the Dollar Index dropping below Friday’s high as Brent declines towards USD90. Lower Oil prices and falling US Treasury yields are easing pressure on the Fed, while markets await the October US CPI report. Futures still price a December Fed hike but fewer moves in […]
by Currency Hedger
- 0 Comments
- 2 days ago
Institutional, MUFG
Indian Rupee: Oil relief and equity inflows back Rupee – MUFG
MUFG’s Lloyd Chan notes that the Indian Rupee has been a key beneficiary of lower Oil prices and renewed foreign equity inflows, with USD/INR dropping to its lowest level since April. Improved terms of trade and reduced pressure on the import bill and margins are supportive, while India’s equity market is attracting sizeable foreign capital […]
by Currency Hedger
- 0 Comments
- 2 days ago
Institutional, MUFG
US Dollar: Safe haven support as AI stocks slide – MUFG
MUFG’s Lee Hardman notes that the US Dollar has reversed its initial post-election losses despite a sharp sell-off in AI-related equities. While higher energy prices and record foreign demand for riskier US assets have supported the Dollar this year, a reversal in these trends could weigh on the currency. Tighter financial conditions could also reduce […]
by Currency Hedger
- 0 Comments
- 6 days ago
Institutional, MUFG
British Pound: Supported by BoE hike expectations and softer Dollar – MUFG
MUFG’s Lee Hardman reports that the Pound has benefited from broad US Dollar weakness, with GBP/USD briefly above 1.3500 and EUR/GBP near 0.8300. Markets expect the BoE to deliver its first rate hike since the US-Iran conflict began, though MUFG anticipates cautious forward guidance and fewer hikes than currently priced, limiting but not reversing recent […]
by Currency Hedger
- 0 Comments
- 7 days ago
Institutional, MUFG
US Dollar: Weaker as Brent slides on US-Iran hopes – MUFG
MUFG’s Lee Hardman notes that the US Dollar (USD) has extended its post-US mid-term election decline, with the US Dollar Index (DXY) down and US yields softer as Brent Oil drops back towards its 200-day moving average. Renewed optimism over a potential US-Iran deal is seen easing inflation risks and undermining Dollar support, while upcoming […]
by Currency Hedger
- 0 Comments
- 7 days ago
Institutional, MUFG
US Dollar: Fed caution cools upside – MUFG
MUFG’s Lee Hardman notes the US Dollar is trading modestly weaker after the FOMC left rates unchanged but signalled more caution on further hikes. Despite two hawkish dissenters, the overall tone and recognition of tighter financial conditions support MUFG’s view of only one more Fed hike. However, the Dollar still benefits from higher energy prices […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, MUFG
US Dollar: Dovish Fed surprise could weaken the Dollar – MUFG
MUFG’s Derek Halpenny notes the US Dollar (USD) is under upward pressure ahead of the FOMC, with NZD/USD hit hard after a surprise Reserve Bank of New Zealand (RBNZ) hold. He expects the FOMC to keep rates on hold but maintain a hawkish tone, with December largely priced. Any dovish surprise, including focus on tighter […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, MUFG
Japanese Yen: Intervention risk offsets trade pressure – MUFG
MUFG’s Lee Hardman notes the Japanese Yen (JPY) is trading in a narrow USD/JPY range above 158.00, with intervention risk and a softer US Dollar (USD) capping upside. Bank of Japan (BoJ) officials see underlying inflation near target, with markets pricing a December hike. Rising domestic yields are boosting JGB demand, though a wider trade […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Institutional, MUFG
British Pound: Resilient but BoE pricing stretched – MUFG
MUFG’s Derek Halpenny highlights the Pound’s resilience, with data-supported expectations of Bank of England tightening keeping GBP steady versus the US Dollar since June. However, rising consumer credit, increasing defaults, survey evidence of household vulnerability, and excessive OIS pricing for 100bps of hikes by next September leave the Pound exposed if UK rates reprice lower. […]
by Currency Hedger
- 0 Comments
- 4 weeks ago