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Nov 27 - 09:55 PM

USD/JPY - Pares Losses On Bargain Hunting, Upside Limited

By Krishna K  —  Nov 27 - 07:40 PM
  • USD/JPY up 0.25% Thu on bargain hunting, short-covering after sharp fall Wed

  • Upside limited by global trade and tariff concerns, lower U.S. yields

  • U.S. inflation sticky but does not preclude Dec Fed rate cut, will cap USD

  • Dec cut chances at 66% on CME Fed watch, was as low as 52 earlier this week

  • Rising expectations of BOJ December rate hike will continue to support JPY

  • U.S. holiday Thursday may exacerbate volatility; Asia range 150.94-151.58

  • Support 151.00, 150.45-50, resistance 151.80, 152.00, 152.50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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