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Apr 25 - 06:55 AM

USD/JPY - Hurt By The Latest Equity Slump, But Remains Resilient

By Martin Miller  —  Apr 25 - 05:05 AM
  • European stocks slide to 1-month low on China slowdown fears nL3N2WN13Y

  • In times of risk aversion, funds usually flow into the safe-haven yen.

  • USD/JPY has fallen from 128.87 to 127.89 on Monday, according to EBS prices

  • Despite EUR/JPY's sharper drop, correlation with USD/JPY remains strong

  • USD/JPY's 30/60-day log correlations with EUR/JPY remains above +0.50

  • The two currency pairs close in the same direction more often than not

  • The USD/JPY chart shows a market on the verge of big gains nL2N2WN0F2

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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