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Jan 15 - 01:55 AM

USD/JPY - Swoons On Ueda-Speak, Long Liquidations

By Haruya Ida  —  Jan 15 - 12:51 AM

• Comments from BOJ Gov Ueda look to struck a chord with weak USD/JPY longs

• USD/JPY swoons to 157.20 EBS, high earlier today 158.08

• Ueda non-committal on hike next week, as with DepGov Himino yesterday

• That said, chance of a hike not completely ruled out though March better bet

• Market also antsy ahead of US CPI tonight, weaker than eyed like PPI?

• PPI data yesterday not really that weak, just a tad under expectations

• USD/JPY support, bids good towards 157.00, series of recent lows in area

• More demand on 156-handle, low Jan 6 156.25, then 156.97/157.02 Dec 20-31

• Higher JGB yields yen supportive, 2s @0.702%, 10s @1.252%

• On the BOJ , ,
USD/JPY hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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