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Aug 19 - 07:55 PM

USD/JPY - Rising US Yields Trigger Profit Taking Rally

By Krishna K  —  Aug 19 - 05:40 PM
  • USD/JPY opens 0.7% higher on p/taking prompted by higher U.S. yields

  • Boosted by Fed minutes not being as dovish as widely expected nL1N2FL1GD

  • Risk sentiment dented on dour Fed outlook on economy; safe haven USD sought

  • USD rise seen as technical after relatively sharp 1.8% drop in 4 days

  • Focus shifts to Thurs China LPR, U.S. jobless claims & Friday's August PMIs

  • Resistance 106.25-30. 106.50-60, support 105.65-70, 105.40-45

  • For more click on FXBUZ


The U.S. dollar vs G10 peers The U.S. dollar vs G10 peers: Click here

Source:
Refinitiv IFR Research/Market Commentary

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