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Forex Flash: Tokyo return sees buying on dips for USD/JPY - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the Tokyo return has seen buying on dips in USD/JPY.

He adds that that Tokyo returns from a long weekend today and USD/JPY may continue to remain a buy dips proposition after the pair (note higher US yields) attempted to take a swipe at the 99.50 area overnight. He remains neutral on the pair in the interim and continue to look towards US-centric developments to drive the pair in the near term the 100.00 still as yet unchallenged.

Forex: GBP/USD extends consolidation into NY session

The pound trades marginally lower against the dollar, having spent most of the day within a slim range unable to set a fresh direction. GBP/USD is currently trading down 0.1% at the 1.5530 area, having hit a low of 1.5520 and a high of 1.5550, where the 100-hour SMA acted as dynamic resistance.
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Economic optimism in the US disappointed the market by easing from 46.2 to 45.1 in May, instead of rising to 47.1 as market consensus.
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