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Jan 31 - 01:55 PM

USD/JPY - Bides Its Time Below Key Hurdles Ahead Of Fed And U.S. Data Deluge

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

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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