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Oct 01 - 09:48 PM
USD/JPY - Turns Tail As Global Growth Concerns Re-Emerge
First appeared on eFXplus on Oct 01 - 07:30 PM
  • USD/JPY rally flounders; US data disappoints, global recession fears return

  • Undermined by worst US manufacturing data in a decade, US yields lurch lower

  • Fed easing chances increase sharply to 75bps of cuts by Jan 2021 FEDWATCH

  • USD downside limited, higher chances of BOJ easing negate Fed expectations

  • Weak Japan confidence readings may spur BOJ to act nL3N26L0UGnL3N26A17O

  • Resistance 108.15-20,108.43-48 pivotal; support 107.40-45, 106.95-107.00


Top U.S. exports to Japan, 2018 png: Click here

Source:
Refinitiv IFR Research/Market Commentary

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