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USD/JPY treading water at 120.00 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, argued USD/JPY could gyrate around the 120.00 mark for the time being.

Key Quotes

“Although headlines from this morning’s Tankan were mixed to supportive, markets may not be dissuaded from expecting further BOJ easing this month”.

“In the interim, we think the pair may continue to hug the 120.00 handle pending further external cues and despite the short-end riskies continuing to price in a heavy profile for the pair”.

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