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Dec 07 - 04:55 PM

USD/JPY - Briefly Above 113.68 Hurdles, But Risk Linkage Weakens

By Randolph Donney  —  Dec 07 - 02:18 PM

  • USD/JPY's 113.78 EBS high cleared 10-DMA, 38.2% of 115.52/2.53 at 113.68

  • But yen retained some haven demand despite big rebounds in risk assets

  • Tsy-JGB yields spreads were supportive, but lagged stocks' risk-on rise

  • Still some Omicron uncertainty, plus US CPI and Fed meetings ahead

  • A close above 113.68 is next step toward hurdles by 114 nL1N2SS1CH

  • Fed may have more rate-hike room given hefty B/S reinvestment in Tsys

  • Tapering is not tightening, just reduced added stimulus

    For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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