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Aug 09 - 08:55 PM

USD/JPY - Gently Bid, Slightly Higher US Yields Support

By Krishna K  —  Aug 09 - 07:15 PM
  • USD/JPY hovers near 135.00 as traders brace for pivotal US CPI data

  • Traded in a relatively narrow 134.67-135.20 range Tuesday nL1N2ZL0TZ

  • Supported by higher US yields on expectations of aggressive Fed rate hikes

  • Fed funds futures pricing in a 70% chance of a 75 bps rate increase in Sept

  • Japan holiday Thursday to further dampen trading activity in Asia

  • Support 134.65-70, 134.35-45, resistance 135.55-60, 135.90-95

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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