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Jul 03 - 03:48 PM
USD/JPY - Holds By Friday's Low As Fed, ECB Easing View Lifts Risk
First appeared on eFXplus on Jul 03 - 01:35 PM
  • USD/JPY dips to Fri's 107.56 pre-Trump-Xi meeting low
  • Dovish Fed and ECB nominees yank DM yields lower, save for JGBs
  • Yield curves flattening across DMs, but JGBs lag due to YCC
  • Yield drop lifts risk, S&Ps, Dow at ATH, slight drag on haven yen
  • US data soft, but impact limited amid pre-holiday position squaring
  • Option pricing favors consolidation around 108 into NFP Friday
  • Converged Kijun and 30-DMA by 108.35 guard 108.53 Monday high

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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