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Aug 29 - 04:55 PM

USD/JPY - Knocking On New 24-Yr Highs On Renewed Fed-BOJ Divergence

By Content Admin  —  Aug 29 - 03:00 PM
  • USD/JPY up 0.8% and near Monday's 139 highs and 24-yr July high @139.38

  • Fed's Powell lifted entire Tsy yield curve with Friday's JH speech

  • USD/JPY fell after July's 75bp Fed hike prompted Fed peak pivot trades

  • But Powell et al making clear more hikes ahead and no quick flip to cuts

  • BOJ's dug in on near zero policy rate with core-core Japan inflation at 1.2%

  • Have JOLTs, consumer confidence and Fed's Williams on tap Tuesday

  • But ISM mfg Thursday and jobs report on Friday are key pre-CPI, Sep FOMC

  • A 139.30 breakout would target hurdles at 139.90/4.00

  • The 161.8% Fibo off August's base is at 143.97 nL1N305142

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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