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Jun 09 - 06:55 AM

USD/JPY - FX Traders Have Been Buying USD/JPY In Waves This Week

By Martin Miller  —  Jun 09 - 05:35 AM
  • USD/JPY has traded a narrow 109.33 to 109.50 range on Wed according to EBS

  • Dollar could suffer if Fed proved right on inflation nL2N2NR0KV

  • Offers said to be in decent size circa 109.65, Japanese exporters included

  • EBS flow data: there has been buying in waves since the start of the week

  • The recent USD/JPY "bear trap" gives bulls some hope nL2N2NR0GX

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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