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Dec 28 - 01:55 PM

USD/JPY - Dips Amid Lower Fed Rate Expectation In Turbulent Pre-Holiday Trading

By Paul Spirgel  —  Dec 28 - 01:15 PM
  • USD/JPY slightly weak in NY aft, -0.43% at 141.20; NY range 141.42-140.27

  • Pair trades erratically in NorAm on low volume/liquidity into YE

  • US-JY 2024 rate outlook key driver as trader await BoJ pivot higher, Fed lwr

  • IRPR on Eikon prices near 50% odd for BoJ hike in Jul 2024

  • Fed seen cutting 155bp by Dec 2024 FOMC meeting; dot plot has 75bp of cuts

  • $JPY res 141.71 Thurs high, 10-DMA 142.50, 200-DMA 142.98

  • Supt 140.27 Thursday flash low, 140.23 55-WMA, 138.05 Jul 28 low

  • Delay in Fed cuts, BoJ hike calculus should lift $JPY back toward 146.10 50% of 151.92-140.27

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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