By Randolph Donney — Jan 31 - 11:50 AM
USD/JPY marginally lower in tight range before Wed's Fed and key US data
Pair trades in a tight 129.75-130.54 range on EBS, down 0.28% last
US ECI nL1N34F1MU, Chi PMI nZON0079L1 cons confidence nL1N34F1N1 mixed
Drop in Tsy yields weighs on USD/JPY, but support by 129 is well below
Topside limited by Kijun, 30-DMA and last week's high, all near 131
ADP, ISM mfg and JOLTS are on tap Wed ahead of the Fed announcements
Fed still priced to hike 25bp Wed and again in March, ease in H2
BoJ's JGB yield cap is under duress again, and more QE is now likely
Japan wage negotiations nL1N34G0BX eyed after this week's major events
Those events topped off with Fri's payrolls and ISM services reports
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Source:
Refinitiv IFR Research/Market Commentary