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Jan 22 - 07:55 PM

USD/JPY - Decline Stalls On Steadfastly Dovish BOJ

By Krishna K  —  Jan 22 - 05:50 PM
  • USD/JPY supported in early Asia; Fri range 128.35-130.62, closed 0.9% higher

  • Boosted by Governor Kuroda's reiteration to keep monetary policy ultra-loose

  • Higher U.S. yields, lower JGB yields weaken JPY as Fed-BOJ policies diverge

  • Bank of Japan's grit chills bond bears; traders cover short JGB positions

  • Fed Jan. 31-Feb. 1 policy meeting eyed as Fed officials remain hawkish

  • Japan's Kishida says he will nominate new BOJ head next month

  • Support 129.40-45, 129.10-15, 128.70-75; resistance 130.00-05, 130.60-65

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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