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Apr 12 - 07:55 PM

USD/JPY - Blips Higher As BOJ Chief Stresses Dovish Policy

By Krishna K  —  Apr 12 - 06:55 PM
  • USD/JPY gains slightly in early Asia on BOJ governor Ueda's dovish comments

  • BOJ will continue monetary easing until price target is stably achieved-Ueda

  • Dollar had declined 0.4% Wed on cooling U.S. inflation, lower U.S. yields

  • Fed minutes of March meeting sparked recession fears, weighed on USD

  • But chances of 25 bps Fed May rate hike still 71% as core inflation sticky

  • Dovish comments help stabilize dollar on Fed-BOJ policy divergence

  • Wednesday range 134.04-132.74, Asia Thursday range 133.28-133.06

  • Support 132.75-80, 132.35-40, resistance 133.40-50, 134.00-10

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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