Yen Advances Amid Rising Risk Aversion On Trade Worries
2018年6月25日 - 12:17PM
RTTF2
The Japanese yen strengthened against its major counterparts in
the Asian session on Monday, as most Asian shares fell amid worries
about U.S.-China trade tensions after the Wall Street Journal
reported that U.S. President Donald Trump plans to bar Chinese
companies from investing in U.S. technology firms and also block
additional technology exports to Beijing.
The U.S. treasury is looking to block companies with at least 25
percent Chinese ownership from buying companies involved in
"industrially significant technology".
Further, the U.S. is drawing up plans for tighter export
controls which will prevent "industrially significant technology"
to be exported to China.
Data from the Cabinet Office showed that Japan's leading index
improved more than initially estimated in April.
The leading index, which measures the future economic activity,
rose to 106.2 in April from 104.5 in March. The flash score for
April was 105.6.
The yen advanced to 4-day highs of 144.95 against the pound,
127.35 against the euro and 110.72 against the franc, from its
early lows of 145.92, 128.28 and 111.29, respectively. The next
likely resistance for the yen is seen around 143.00 against the
pound, 125.00 against the euro and 108.00 against the franc.
The yen climbed to a 2-week high of 109.38 against the greenback
and near a 3-month high of 82.24 against the loonie, reversing from
its early lows of 110.01 and 82.89, respectively. On the upside,
107.00 and 80.00 are possibly seen as the next resistance levels
for the yen against the greenback and the loonie, respectively.
Reversing from its early lows of 76.08 against the kiwi and
81.86 against the aussie, the yen rose to 75.44 and 81.11,
respectively. If the yen rises further, it may find resistance
around 73.00 against the kiwi and 79.00 against the aussie.
Looking ahead, German Ifo business sentiment index for June is
due in the European session.
In the New York session, U.S. new home sales for May are
scheduled for release.
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