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May 24 - 05:55 PM

USD/JPY - Trickles Lower After Soft Durable Revisions And UMich Inflation Outlook

By Paul Spirgel  —  May 24 - 01:00 PM
  • $JPY soft in NY aft trading -0.05% at 156.89; Friday range 157.15-156.90

  • Pair remained tethered to recent highs just above 157 on US-JP rate diffs

  • U.S. durables revisions, lower UMich inflation view stirs USD selling

  • Liquidity light ahead of U.S., UK holidays; recent longs lightening slightly

  • Suspected intervention lvl by 157.50 in focus, may temper further USD gains

  • Japan CPI as forecast doesn't move BoJ hike expectations

  • Res 157.19 May 23 high, 157.99 May 1 high, 158.35 upper 21-d Bolli

  • Supt 156.90 Friday high, 156.53 May 23 high, 156.18 rising 10-DMA

  • German CPI May 29 and U.S> core PCE Idx on May 31 next week's key data

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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