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Finds Support again at Y104.80

DOLLAR-YEN
MNI (London)

Recovery off Wednesday's extended low of Y104.80 was given a boost in Asia on MOF comments concerning JPY strength, as well as Goto-bi Day demand at the Tokyo fix, though the general USD recovery tone only managed to take rate up to Y105.29. Stronger resistance/fade area was seen higher up between Y105.50/70. Rate retained a buoyant tone into the NY session but was knocked lower by US Trump suggestions of delaying the November election due to safety reasons, as well as to prevent voter fraud via increased postal voting. USD/JPY dropped back below Y105.00 but has again met decent support at Y104.80. Strong support has been suggested slightly lower between Y104.70/50.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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