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Thomson Reuters
Nov 01 - 03:48 PM
USD/JPY - Caught In Dollar's Undertow, Crosses Rise, Risk-On
First appeared on eFXplus on Nov 01 - 02:20 PM
  • USD/JPY down far less than most USD pairs, but probing 112.62 Fib
  • Bearish USD reversals across most majors and EMs hit haven JPY
  • Deteriorating ISM manufacturing data doing more damage to the USD
  • Trump-XI somewhat hopeful comments on trade extends USD/CNH losses
  • US jobs report Fri next key event after ISM miss
  • 50% of late Oct rise @112.38 key prop, 100DMA key on closing basis
  • WTI's drop below summer lows also a weight on USD/JPY

Chart: Click here

Source:
Thomson Reuters IFR Markets

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