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May 01 - 07:55 PM

USD/JPY - Starts May On Buoyant Note After 6.7% Gains In April

By Krishna K  —  May 01 - 06:40 PM
  • USD/JPY rises 0.3% in early Asia as dip buyers resurface after 0.7% fall Fri

  • Risk aversion and month end position adjustments triggered Friday pullback

  • Downside seen limited as traders brace for 50 bps Fed rate hike Wednesday

  • Big Fed rate hikes ahead, amid early signs hot inflation peakingnL2N2WR1WL

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

  • Many centres in Asia closed Mon for May Day holiday; Japan closed Tue-Thurs

  • Support 129.75-80, 129.30-40, resistance 130.40-50, 130.80-85

  • For more click on FXBUZ


Fed poised to ramp up rate hikes as inflation surges: Click here

Fed policy trails inflation by historic margin: Click here

Source:
Refinitiv IFR Research/Market Commentary

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