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Jul 16 - 02:36 PM
USD/JPY - , US Rates And Stocks Dip On Trump's Trade Comments
First appeared on eFXplus on Jul 16 - 12:40 PM
  • Trump says long way to go on China trade deal nW1N21900R
  • Also waiting for China to buy US ag goods
  • Complacency on trade since truce tested, risk-off & a yen plus
  • Comments erode US yield gains that follow sales beat
  • Trump news raises 50bp Fed cut this month to 25% probability
  • But risk-off reaction to trade news less than in past
  • USD/JPY's 108.37 high is by daily Tenkan and 10-DMA
  • Options still pointing to pre-FOMC range trade with 109 cap

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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