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Jul 03 - 08:36 PM
USD/JPY - Perks Up On Global Stocks Rally, Upside Limited
First appeared on eFXplus on Jul 03 - 06:50 PM
  • USD/JPY drifts up from Wed Asia low @ 107.54 on record Wall Street close
  • U.S. holiday Thurs prompts light short covering ahead of Fri U.S. NFP risk
  • Recovery potential limited, raft of U.S. data Wed point to slowing economy
  • Leads to rise in Fed rate cut expectations, 0.25% cut in July seen certain
  • Chance of 50bps cut 29.7%, up from 24% week ago as US-China trade hopes cool
  • Support 107.45-55, resistance 107.90-108.00; APAC stocks to dictate moves

June swoon?: Click here

Source:
Refinitiv IFR Research/Market Commentary

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