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Mar 05 - 07:55 PM

USD/JPY - Lower With US Yields, Focus Turns To Powell

By Krishna K  —  Mar 05 - 05:35 PM
  • USD/JPY subdued after closing 0.3% lower Tue; traded in 150.55-149.70 range

  • Undermined by lower U.S. yields; 10-yr yield down 7bps, 2-yr down 5 bps

  • Weak U.S. service sector data, selloff in risk assets boost safe-haven JPY

  • Caution, position squaring ahead of Powell's testimony boosts yen

  • Powell likely to reiterate Fed's cautious stance on rate cuts

  • BOJ seen eyeing near-term stimulus exit as Tokyo Feb CPI re-accelerates

  • Japan seeing signs of positive wage momentum, says senior official

  • Repeated failures at 150.80-90 weaken rally; support 149.70, 149.20

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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