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Jul 14 - 04:55 PM

USD/JPY - On Higher Plane As U.S. Inflation Widens Fed-BOJ Policy Divergence

By Randolph Donney  —  Jul 14 - 02:45 PM

  • USD/JPY made a 24-yr high at 139.38 amid broad dollar demand pre-NorAm open

  • Follow-through from hot CPI's lift to Fed hike pricing, Treasury yields

  • Above-f/c PPI Thur sent yields higher still, but no new USD/JPY highs

  • Fed hike pricing and Treasury yields backed off after Waller's comments

  • Next resistance is at 140. L-T Fibo target is at 140.91 on EBS

  • Daily tenkan support is rising again, last at 137.09, but 138 1st support

  • US retail sales, IP, Mich sent are on tap Fri to guide rates, dollar

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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