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Oct 24 - 05:55 PM

USD/JPY - Opens Lower As Powell Walks Back Rate Expectations

By Krishna K  —  Oct 24 - 05:34 PM
  • USD/JPY starts the week on a cautious note after declining 0.5% Friday

  • Weighed down by pullback in U.S. yields; 10-year yield drops 6bps

  • Time for Fed to taper bond purchases but not to raise rates, Powell says

  • Profit-taking on JPY crosses weighs; AUD/JPY -2% from near 44-month high

  • Inflation concerns limit dwnside; China growth fears to cap rallies

  • Support 113.35-40, 11.00-05, resistance 113.90-114.00, 114.20-25

  • For more click on FXBUZ


Inflation expectations ratchet higher: Click here

Source:
Refinitiv IFR Research/Market Commentary

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