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Sep 27 - 02:55 PM

USD/JPY: Unlikely To Regain Its YTD High Of Around 111.70; Expecting A Pullback Towards 109.10 - Citi

By eFXdata  —  Sep 27 - 01:30 PM

Citi discusses USD/JPY outlook and sees a scope for a pullback towards 109.10.

"USDJPY climbed above 110.6 last week on the Fed’s more hawkish than expected statement, while the concern for the Chinese property markets eased somewhat. We don’t think the pair can regain its YTD high of around 111.7 registered in July easily and expect a pullback to around 109.1," Citi notes. 

"Regarding the LDP presidential election on September 29 this week, we do not expect USDJPY to be much affected by the outcome in the near term," Citi adds. 

Source:
Citi Research/Market Commentary

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