USDJPY moves up to 112.66 in the last fixing of September.
As expected ,bookkeeping interests for portfolio managers and corporates saw a notable increased volume, taking the JPY 0.2% lower before stalling after the event.
This is NOT a game changer, these flows need to be executed to keep the portfolio’s in balance neutral or consolidate the books in case of the corporates. Next week may see the investors
come in the market with a renewed interest, perfectly possible to be in line or opposite of the interests seen today.
Before that be aware we have a few more fixings going through over the next 14 hours,notably the 4PM London time, which can make some waves as it’s Quarter end. I will reassess levels
beyond that point in time, letting the natural interests decide upon the price in the meantime.
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