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May 30 - 06:55 AM

USD/JPY - Dip Buyers Before Key U.S. And Japan Inflation Data

By Richard Pace  —  May 30 - 05:40 AM
  • Risk aversion hit USDJPY from post intervention recovery hi 157.71 to 156.54

  • Dip buyers helped recovery to 157.00 - 800-million FX option strike expiry

  • US and global yield gains peak for now and stocks post mild recovery

  • USD/JPY still favoured for carry trade amid wide interest rate differential

  • Bulls mindful that 157.71 was above May 1 alleged MoF intervention level

  • Near term focus on U.S. PCE and Tokyo CPI inflation gauges Friday

  • Friday expiry USD/JPY FX options alert for a related volatility increase

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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