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Nov 04 - 08:55 AM

USD/JPY - Yanked Toward Key 104 Lows As Dollar Loses Its Risk-Off Edge

By Randolph Donney  —  Nov 04 - 08:10 AM
  • USD/JPY making new lows as dollar drops and Trump win odds widen

  • Overnight surge to 105.35 on early Trump state wins roundly rejected

  • Haven demand for dollar, Treasuries waning, S&Ps near session highs

  • Still lots of votes to be counted and possible legal challenges ahead

  • Also not clear which way the Senate will end up, key to fiscal relief

  • September and October 104.00/02 lows remain key support

  • Yen haven demand and vols also slipping a bit but should linger

  • ADP and ISM services next up, but overshadowed by election news

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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