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Thomson Reuters
May 31 - 02:36 PM
USD/JPY - Fed Williams Policy Lessons Learned Lean On Rates, USD/JPY
First appeared on eFXplus on May 31 - 01:05 PM
  • USD/JPY testing Jan 31 swing low at 108.49 after Fed Williams speech
  • Williams say policy should be eased quickly in a severe downturn threat
  • Touts QE when rates hit 0, less rate cut room now than in past nN9N21F01D
  • Though not speaking about current US situation, feeds Fed cut hopes
  • 1-yr FF spreads at -63.5bp of easing, 3mo-10yr inversion at 18.5bp
  • 2-yr yields breach 2% vs current Fed funds 2.5% target rate
  • If 50% Fib of 2019 range at 108.25 breaks, 107.29/27 are next targets

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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