By Krishna K — Aug 28 - 11:40 PM
USD/JPY -0.1% in Asia as traders pare positions ahead of key economic data
Early attempt to test overnight 9-month 146.75 high peters out at 146.56
Drift to 146.31 ensues as U.S. yields move lower; 2-yr down 5bps to 4.99%
Buyers step in ahead of Mon 146.28 low as bullish sentiment remains intact
Diverging BOJ-Fed monetary policies will continue to undermine JPY
Japan July jobless rate rises to 2.7%, jobs-to-applicants ratio falls
Slew of U.S. data this week that could impact Fed rate expectations eyed
U.S. Aug NFP, PCE inflation, ISM PMI, 2nd estimate of April-June GDP due
Resistance 146.90-147.00, support 145.70-80, 145.40
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Source:
Refinitiv IFR Research/Market Commentary