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
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Source:
Refinitiv IFR Research/Market Commentary