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Jul 02 - 03:55 PM

USD/JPY - USD Slips As Focus Shifts From NFP To Unemployment Rate Rise

By Paul Spirgel  —  Jul 02 - 01:45 PM
  • USD/JPY dips 0.37% to 111.15, off NFP-related rise to 15-month high 111.66

  • USD bulls unwind as focus shifts to emp rate rise, slower pace of job gains

  • USD/JPY bulls apathetic to NFP rise, respect Mar '20 high nL2N2OE1H6

  • Dollar dip after Fri data may be position pruning pre Jul 4 holiday

  • U.S. recovery further along than Japan may stir further USD/JPY rise

  • Bulls target Mar 2020 high 111.72, then Apr 2019 high 112.40

  • Hawkish Fed shift, quicker pace of taper/rate hikes puts 115.51 in view

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Source:
Refinitiv IFR Research/Market Commentary

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