Daily Market Notes
The 157.00 Pin Failed in Both Directions. And the Notional Was Obtainable All Along.
A publisher called 157.00 a pinning level with spot fifteen pips away. Dollar-yen traded 36 pips below it and closed 38 pips above. We also finally have the notional — 1.4 billion dollars — from Minkabu, which prints the expiry ladder with sizes while the page we habitually read hides them in an image. Tokyo opens 157.34 and the Tankan printed plus 24 against plus 25. Thirteen hours on, the Ministry's English page still has not said zero.