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Thomson Reuters
Nov 28 - 02:36 PM
USD/JPY - Powell Punches USD/JPY Longs In Face With Nearer Neutral Rate
First appeared on eFXplus on Nov 28 - 12:25 PM
  • USD/JPY falls from downtrend across Oct-Nov highs on Powell
  • Powell says "just below", not "far away" from neutral policy rate
  • Like Clarida & others, Powell more data-dependent nW1N1X9081
  • USD/JPY's recent rise boosted by stocks, but needs yield support
  • Stocks rise, risk-on move on Powell limiting pullback for now
  • But if Trump-Xi meeting ends poorly Saturday, risk will be off
  • Close below Tuesday's 113.41 low would target 55-DMA by 113

Chart: Click here

Source:
Thomson Reuters IFR Markets

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