We have seen fresh year highs on USDJPY at the start of the European session as the 115.59 level is broken,with 116.00 not far away.The pattern on the yen for the past several years has been range trading for months,followed by more pronounced moves and the underlying dynamics appear to be supporting such a pattern of trading at this point in time.The market continues to bask in the Bank of Japan’s announcement of two weeks ago,together with the pledge from the main pension fund to buy more domestic and overseas equities.But the positive impact on the economy of a weaken currency are having a harder time asserting themselves.The Aussie has also weakened against a US dollar looking a little more assured towards the end of the Asia trade,with AUDUSD just above the 0.8600 level.
欧洲开盘时美元日元达到年度新高点，115.59这个位置已经被突破，116.00不再遥远。过去几年里日元的模式就是，几个月里先在一个范围内变动，然后突然出现大的变化，而目前内在的动态似乎支持日元这种交易模式。市场依然沉浸在日元银行两周之前发布的宣言之中，而且日本的主要养老金还誓言要购入更多国内和国外的证券。不过，疲软货币很难对经济产生正面的影响。澳元针对美元也出现疲软，亚洲收盘时美元显示出自信了一点点。澳元美元目前只高于0.8600这个水平。
If we look at the data calendar for today,then it suggests we are in for something of a quiet session with no major releases scheduled,but price action on the yen suggest that the market is still keen to push further on some underlying trends.It’s notable that sterling is holding steady,with players reluctant to push lower ahead of the Bank of England Inflation Report tomorrow.Finally,keep an eye on EURCHF,which has continued to nudge lower towards the SNB’s 1.20 floor.At some point,something will have to give.It’s unlikely to be the SNB’s resolve that gives first,so we can expect the SNB to up the rhetoric and buying of reserves before long.
今天，数据方面比较安静，没有主要的数据要发布，不过日元的价格变化显示出市场仍然想要继续推进一些基本的趋势。值得注意的是英镑仍然维持稳定，明天英格兰银行通胀报告发布之前，交易者似乎都对走低迟疑不决。最后，我们要关注欧元瑞士法郎，由于瑞士央行制定的1.20底线，欧元瑞士法郎持续走低。瑞士央行的措施不太可能首先出现，因此我们期待的就是瑞士央行不久以后能有所行动，购入外汇储备。
美元日元高于116.00
USDJPY above 116.00 as yen weakness from Asia session continues through European trade.EURJPY at 143.85,just shy of high seen post-ECB last Thursday.As mentioned in Daily,we’re in a renewed period of yen weakness,which could well have further to run.
由于日元在亚洲盘的疲软蔓延到了欧洲盘，美元日元目前高于116.00。欧元日元则位于143.85，离开上周四欧洲央行事件之后的高点不远了。正如我们在每日新闻简报中提到的，日元的疲软在延续，而且可能会持续一段时间。