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Jun 08 - 05:55 AM

USD/JPY - Recovers, U.S. CPI Data Looks Set To Dominate This Week

By Martin Miller  —  Jun 08 - 03:35 AM
  • USD/JPY was boosted into the Tokyo fix, rising from 109.20 to 109.44

  • That rise has extended in London, it has hit 109.53 on the EBS so far

  • That despite Monday's bearish close under kijun line at 109.33 nL2N2NQ09A

  • Direction will likely be dominated by U.S. CPI data due Thurs nL2N2NQ06Z

  • Offers said to be in decent size circa 109.65, Japanese exporters included

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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