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Nov 18 - 06:55 AM

USD/JPY - Underpinned, BOJ Unmoved By 40-Year High Inflation

By Martin Miller  —  Nov 18 - 04:35 AM
  • Japan's inflation hits 40-yr high as BOJ sticks to easy policy nL4N32C18F

  • BOJ's Kuroda rules out rate hike until wages rise more nL1N32E02R

  • USD/JPY saw a setback from 140.49 in Asia to 139.63 in Ldn, before bouncing

  • Talk of Japanese exporter offers from 140.50, importers bids towards 139.50

  • USD/JPY bulls should beware of cloud that spans 140.30-145.39 nL1N32E0IV

  • 30-day log correlation between USD/JPY and EUR/JPY above +0.50

  • Relationship between the two currency pairs has grown in recent sessions

Source:
Refinitiv IFR Research/Market Commentary

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