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Aug 27 - 07:55 PM

USD/JPY - Hovers Near 9-Mth High; Ueda Reiterates Dovish Stance

By Krishna K  —  Aug 27 - 06:00 PM
  • USD/JPY starts the week on a firm note after closing 0.35% higher on Friday

  • Traded at a new-2023 high at 146.64 on guardedly hawkish Powell, risk rally

  • U.S.2-yr yield +6bps, records highest weekly close since June 2006, supports

  • Fed's Mester sees another rate hike, says rate cuts may have to wait

  • BOJ's Ueda: Underlying inflation still a bit below target

  • Says central bank will maintain the current approach to monetary policy

  • Fed-BOJ monetary policy divergence will continue to undermine JPY, boost USD

  • Traders on guard for Japan intervention, unlikely before 150-yen

  • Fri range 145.73-146.64; resistance 146.90-147.00, support 145.70-80, 145.40

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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