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Mar 06 - 04:55 PM

USD/JPY - Sinks To 1-Month Low Near 149 Amid Narrowing US-JP Rate Expectations

By Paul Spirgel  —  Mar 06 - 01:40 PM
  • $JPY slid 0.54% to 149.24 in NorAm afternoon trade, Wed range 150.09-149.09

  • Below f/c ADP, dovish Powell testimony sinks UST yields, lifts Fed cut odds

  • Traders lighten yen short ahead Mar 19 BoJ meet, wary of higher BoJ rate

  • Dollar slides to monthly low versus yen as BoJ risk weighs nL2N3FK2R0

  • Extreme long IMM position, by 2017 high, unwinds as US-JP rate spread narrow

  • $JPY supt 149.09 Wed low, 148.78 lower 21-d Bolli, 147.94 Feb 8 low

  • Prior to BoJ on Mar 19 traders eye NFP Friday, U.S. CPI Mar 12

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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