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Jan 12 - 07:55 PM

USD/JPY - Trounced As BOJ Policy Optimism Fuels Yen Gains

By Krishna K  —  Jan 12 - 05:45 PM
  • USD/JPY declines 2.4% Thursday, hits more than 6-mth high on BOJ speculation

  • Traders increasingly optimistic that BOJ will let yields rise further

  • Softer U.S. CPI fuels bets Fed will slow rate hikes pace, boosts JPY further

  • U.S consumer prices fall in Dec for the first time in more than 2-1/2 years

  • U.S. yields drop sharply; USD falls to 128.85 low from 132.43 day high

  • Fed policymakers signal rate-hike slowdown coming, but no easing

  • Support 128.65-128.85, 127.25-30, resistance 129.90-130.00, 130.70-80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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