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Aug 11 - 07:55 AM

USD/JPY - Marking Time Amid Thin Conditions

By Peter Stoneham  —  Aug 11 - 06:25 AM
  • Yen licking its wounds following Thursday's drubbing

  • Tight USD/JPY price action: 144.56-144.89 the range so far

  • Yen hit a 5-week low on widening U.S.-Japan yield differentials Friday

  • USD/JPY high of 144.89, just shy of the 2023 145.07 high from Jun. 30

  • Close above 145.07 could bring 76.4% of 2022-23's drop at 146.11 into play

  • Dollar eyes a long-term retracement level versus the yen

  • EUR/JPY hits 15-year high as carry trade demand shapes EUR gains

  • Traders on BOJ intervention watch; markets illiquid: Japan holiday Friday

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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