Halister News

(Bloomberg) -- The yen climbs vs all G-10 peers after the BOJ policy; CHF little changed after SNB holds rates at -0.75%.

• European stocks open lower; Nikkei drops 3%
• Traders report waning liquidity in the options market, wider spreads, as the U.K.’s EU referendum approaches
• SNB says central banks are in close contact on Brexit

• USD/JPY -1.8% to 104.23, pares losses after falling as much as 2.3% to 103.55 earlier in the session
  • Pair breaks below the 200-month moving average; next support is 103.50, Aug. 22 2014 low
  • Option barriers were triggered at 105.00, 104.50 and 104.00 and have accelerated the downside
  • Yen surges on buying from leveraged and hedge accounts, according to an Asia-based FX trader
  • One-week 25-delta risk reversals now 178 bps in favor of USD puts vs 6 bps yesterday; suggests JPY bullish momentum is the most bullish since May 3
  • BOJ leaves policy unchanged; Japanese Bankers Association Chairman says BOJ should assess impact of negative interest-rate policy before expanding it

• GBP/USD -0.4% to 1.4154, after gaining the most in a week yday
  • A poll by Ipsos Mori showed a 6ppt lead in support for U.K. to leave the EU, a reversal from its previous survey
  • William Hill odds for U.K. remaining in EU now at 4/7 vs 4/9 earlier; odds for U.K. leaving EU now at 11/8 vs 7/4 earlier
  • Few bids seen at 1.4100 but the spot market remains illiquid: traders
  • Hedge funds set to cut Brexit trades ahead of vote: Unigestion
  • Goldman sees GBP sliding 11% vs peers if U.K. votes to leave the EU

• EUR/CHF little changed at 1.0824 after SNB policy decision
  • Pair’s haven-buying interest ahead of U.K. vote on EU membership next week overstated: trader
  • Support for EUR/CHF at 1.07899, low on June 14; resistance is 233-DMA at 1.09088

• BBDXY -0.1% to 1,185.12, falling for second day after Fed reins in rate-hike path
  • Fewer Fed officials expect the central bank to raise interest rates more than once this year
  • FOMC statement and latest economic projections that suggest a slower pace of tightening signal that central bankers could be bracing for economic reversal: ROUNDUP here

• EUR/USD -0.31% to 1.1225
  • Resistance is 1.1303/12, June 13 high; support is 1.1189, June 14 low
  • ECB says stimulus from latest measures will have further impact