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Nov 23 - 07:55 PM

USD/JPY - Undermined By Fed Minutes, Weak US Economic Data

By Krishna K  —  Nov 23 - 05:40 PM
  • USD/JPY drops 1.2% Wednesday as Fed minutes perceived as dovish nL1N32J1JB

  • Most Fed officials see smaller, more deliberate pace of rate hikes soon

  • Weak US data weighs on USD; biz activity shrinks for 5th month nL1N32J11Y

  • Dollar decline fueled by sharply lower US yields; 10-year yield drops 7 bps

  • Thin markets ahead of Thursday US Thanksgiving holiday exacerbate drop

  • Support 139.15-20, 138.60-75, resistance 139.95-140.00, 140.40-50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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