XE CURRENCY CONVERTER
| 1.00 CNY | = | 16.5215 JPY |
| Chinese Yuan Renminbi | ↔ | Japanese Yen |
| 1 CNY = 16.5215 JPY | 1 JPY = 0.0605272 CNY |
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Mid-market rates: 2013-05-24 04:55 UTC
USD/JPY2013-05-23 19:23 UTC
USD-JPY struggled to hold on to higher levels and drifted into 101.30 early in the session. Only short term buyers were noted, but larger Japanese flows are seen into 101.00 and below. If USD-JPY holds above 100.80, Japanese buying may pick up again in Tokyo on Friday. Indeed, the pairing recovered back over 101.90 in late trade. On the chart, there is decent support from 100.50-60 and into 100.35 ahead of the psychological 100.00 level. ... Read More ►
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XE Market Analysis
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North American Edition2013-05-23 10:09 UTC
Markets were frayed in Europe. Very heavy action followed yesterday's comments from Bernanke, the FOMC minutes, overnight data weakness in China and a stock market collapse in Japan. The dollar, which had started the Asian session on the front foot, weakened into the European open amid a sharp liquidation via yen-funded carry trades after the Nikkei 225 closed 7.32% lower. By the time liquidity rose after the London open USD-JPY had dropped from over ... Read More ►
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European Edition2013-05-23 07:14 UTC
Markets are still reeling from yesterday's Bernanke testimony and Q&A session, which covered both sides of the QE debate, though his admission that tapering could come in the next few meetings, depending on data, saw a big fallout in risk-trades. This was backed up by the FOMC minutes, which also echoed this view, while in Asia, there were heavy losses related to a big drop in China manufacturing PMI, while JGB market volatility also unnerved ... Read More ►
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Asian Edition2013-05-23 19:23 UTC
Fallout from Bernanke testimony continued overnight, ultimately sinking equity markets and the dollar in the process. On top of that, China May PMI fell under the 50 mark, which spooked traders as well. U.S. data was better than expected, with jobless claims lower, and new home sales higher. The dollar later moved another leg lower, in concert with Wall Street paring losses. Long USD positions were reportedly thinned out through much of the morning, in ... Read More ►
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