159.00 Never Traded. The 200-Day We Said We Could Not Locate Is 158.57, and the High Was 158.603.
We pre-registered that dollar-yen would not trade 159.00 before yesterday's 14:00 UTC New York cut, with $1.1bn expiring there and nothing above it.
The claim scores: the high for the whole of 20 October was 158.603, set in the Tokyo morning, 39.7 pips short, and the pair spent the rest of the day falling to 157.82 in New York - 118 pips below the strike - inside a 78.3-pip day. The better finding is the number we said yesterday we could not give you. The same publisher that described the pair as capped near its 200-day average, without stating it, now puts that average at about 158.57. The high was 3.3 pips through it and the close about 40 pips below. And both giants on the board expired unreached: $1.1bn at 159.00 missed by 39.7 pips, EUR4.1bln at 1.1265 missed by four, with euro-dollar's New York high at 1.1261. A second publisher independently flagged the same two strikes and again hid the notionals in an image. The $686mln at 158.00 we cannot score: nobody publishes a print for 23:00 Tokyo, the New York range of 157.82 to 158.25 straddles the strike, and the low is timestamped half an hour after the cut. Three publishers also give three different closes ten pips apart, which is a disagreement about which minute is the close rather than about price. Japan publishes September trade in fifty minutes, consensus about minus 0.26 trillion yen against minus 0.84 previously, on one aggregator.